Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.7%) remains just above its session low with nearly all sectors trading lower and four showing losses of at least 1.0%.

The financials sector (-2.1%) is the worst performer in the early going, extending this week's loss to 2.5%, which leaves the group well behind the remaining ten sectors on this week's leaderboard. Payment processors Visa (V 348.39, -23.01, -6.2%), Mastercard (MA 556.76, -32.52, -5.5%), and PayPal (PYPL 71.08, -3.73, -5.0%) are among the worst performers today after The Wall Street Journal reported that retail giants Amazon (AMZN 211.49, -1.75, -0.8%) and Walmart (WMT 94.75, -0.08, -0.1%) are thinking about issuing stablecoins.

Treasuries continue trading near their lows with the 10-yr yield up five basis points at 4.41%.