Down 4 Days In a Row...

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Well, the Fed funds/public has finally woken up to the idea of the rate cuts. Traders are pricing in just a 16% chance that the Fed will lower its policy rate at its June meeting, according to CME Group’s FedWatch tool. 

A month ago, the likelihood of a cut was 55%, and have responded by the continued selling in the stock market with all three major indexes down 4% or more so far this month. Some of the main weakness is coming from the tech sector. Yesterday chip stocks fell, continuing a recent slide for a sector that has shined over the past year. The #PHLX Semiconductor Index declined 3.2% and is down 6.9% for the month. 

Let's face it, the stock market is bleeding but…it's down 4 in a row.