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Michael Ashbaugh

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Aug. 7, 2019, 12:04 p.m. EDT

Charting a corrective bounce, S&P 500 tries to rally from major support (2,817)

Focus: 10-year yield plunges toward record low, U.S. dollar holds breakout point, Japanese yen takes flight, Crude oil extends August downdraft (amid plunging yields)

By Michael Ashbaugh, MarketWatch

True to August form, U.S. stocks are firmly lower early Wednesday, pressured amid plunging commodity prices and as U.S. Treasury yields fall off a cliff.

Against this backdrop, the process of trying to establish a floor is underway, with the S&P 500 and Nasdaq Composite showing signs of potential success near major support.

Link to MarketWatch's Slice.