The major averages pull back to start the week as the government reopens with a flood of key economic data releases this week along with earnings from tech titan Nvidia on Wednesday. The Dow Jones Industrial Average fell 557 points, or 1.18%. The S&P 500

Fell 61 points or 0.92% while the Nasdaq Composite shed 192 points or 0.84%.

The weakness in the markets is once again in the tech space. Nvidia is leading the chips lower ahead of earnings. Dell fell 8% on a downgrade. Amazon is down a percent even as they work out a deal to sell certified pre-owned Ford cars on their website, Amazon Autos. One tech to the upside was Google, up 3% as Warren Buffett’s Berkshire Hathaway revealed in the firm.

Interest rates were modestly lower anticipating delayed economic data. The 10-year Treasury fell a basis point to 4.13%. The 2-year note yield fell a basis point to 3.60%. The 30-year bond yield traded down a basis point to 4.734%. Financial stocks were lower today.

In the commodity space, oil was modestly lower still below $60 a barrel. Gold was down a percent but still above $4000. The real weakness was in the crypto space with bitcoin down 2% today and down 25% from all time highs.

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