Equities opened on shaky ground on this morning.  Rising interest rate yields and heightened tensions with China gave investors a reason to take some money off the table.  Bloomberg reported that Apple (AAPL), Amazon (AMZN) and other high-profile U.S. companies might have been hacked by China.  China has also been accused of meddling in the 2018 midterm elections. 

China trade war news has taken a backseat to other China related news. Fox News reported on a near collision between a Chinese destroyer and a U.S. Navy ship in the South China Sea. 

In a speech at the Hudson Institute today, Vice President Mike Pence accused China of “orchestrating an aggressive military, economic and political campaign to expand its influence inside the United States and across other regions of the world.”  He further went on to say, "To put it bluntly, President Trump’s leadership is working; China wants a different American President."          

Stocks have had a good run of late, over the last 3-months the Dow Jones Industrial Average has risen approximately 10.0%.  With earnings season around the corner and nonfarm payrolls data tomorrow morning, we are not surprised to see a pullback. 

• The Dow Jones Industrial Average is lower by 0.93%
• The S&P 500 is lower by 1.0%
• The Nasdaq is lower by 2%
• The Russell 2000 is lower by 1.50%

Breadth:

• NYSE declining 2,852 to advancing 611; new 52-week highs 37 to new lows 430
• Nasdaq declines 2,371 to advancing 635; new 52-week highs 31 to new lows 151

The Dow is at or near support around 26,500 and needs to hold these levels.  The next support is 26,151.