The market opened lower and quickly found terra firma, only to slip then even further after the Dallas Fed report.

The index has dropped now for the ninth consecutive month; however, moving up to -8.4% and surpassing consensus of -15%.

New orders moved higher, and employment numbers were encouraging. But it was the responses that triggered selling:

"Current federal policies are killing small businesses. From diesel prices to shortages, everything costs so much more."

"Recession is on its way."

"We have a bleak outlook until the Fed stops interest hikes and the admin seeks energy independence."

Only two sectors are posting gains this afternoon while Energy is lagging.

The major indices are retreating to start off a busy week.