Stocks turn lower after positive open, bitcoin advances

Yahoo Finance Live’s Brad Smith discusses how stocks are trading as Wall Street looks to shake off a two-day rout.

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BRAD SMITH: Whammy for your fanny here. We're seeing that play out in the markets--

[LAUGHTER]

--early this morning at the 10:00 AM marker as that economic data crossed. You're seeing that latest leg lower here, and the S&P 500 now down by about a quarter of a percent here. The NASDAQ composite, you're also seeing that down by about 4/10 of a percent here this morning.

That's after opening in positive territory, as we were outlining at the start of today's trading activity, that this was going to be a big day to see exactly where some of that larger overhang, and some of that scare, and perhaps taking some of those chips off the table going after the Fed's commentary-- Fed Chair Jerome Powell's commentary on Friday-- how much that is continuing to rattle markets here on the day. You're seeing the tech-heavy NASDAQ continuing to move lower by about 3/10 of a percent here today.

Also want to take a look, very briefly, at some of the crypto activity, as we've been tracking that too. And taking a look here briefly at the major cryptocurrencies, as we have seen that slide take place over the weekend, some of the speculative assets selling off. And, of course, the crypto markets they don't close.

However, you're seeing a slight move higher here on Bitcoin on the day by about 1%. But we're off of that level that we had seen it actually touch, of 20,000, over the past couple of days and earlier here today. And so just briefly here, let's take a look at the past five days to see where that's moved off of.

And there we saw that 21,700 level reached, touched, but still moved off of at this point in time. Some of the other cryptocurrencies moving in concert right now on the day. Soz.

BRIAN SOZZI: Expert line work, Brad. Thank you.