MIDDAY LUNCH

Dow 9893.20  -245.32, Nasdaq 2153.72  -66.93, S&P 1045.93  -28.64 

The markets started the day off in the red and have struggled all day and the 10-year Note is now at its lowest level, 2.98%, since April 2009.

Selling today is broad based, but industrials are feeling the brunt of the selling.  The sector is off -3.7%.  Every single one of the industrial sector's components is in negative territory, with Textron (TXT)  17.05 -1.59, -8.52% and Boeing (BA) 63.99 -3.38, -5.02% leading the way lower.

Much of today’s selloff can be blamed on Japan’s recent economic data which suggested the country’s economy has stopped growing.

Additionally, the Conference Board's Consumer Confidence Index for June fell to 52.9 from 62.7 in the prior month. Economists had expected a reading of 62.0.