Stocks flirt with yearly lows as losses continue

Yahoo Finance Live’s Brad Smith discusses how stocks are trading on Thursday morning.

Video Transcript

BRAD SMITH: And there's some fresh news on Peloton we're going to get to during that conversation. But first and foremost, let's start off this 10:00 AM hour with a look at the markets. This is the major averages for the Dow Jones Industrial Average. And I'm taking a look at quarter to date right now because right now, we've seen over the past 55 days, as we round out this, the third quarter of 2022, you've got the Dow Jones Industrial Average down by about 5.4% we'll round that off to. And that's with today's decline of about 1.9% that we're tracking intraday.

The NASDAQ composite, you're also seeing that down quarter to date by about 4.7%. Here on the day, though, down by about 330 points. And here's a key level to keep an eye on for the NASDAQ, as Julie and we have been kind of looking through some of both the intraday lows, as well as year to date, 52-week closing lows-- 10,646 for the NASDAQ composite. If we close below that level, that will be a new low for the year as we continue this larger stretch to the downside.

And then just lastly here, let's take a look at the S&P 500. You're seeing that quarter to date down by about 4 and 1/2%. Today's decline, 84 points as of right now. Continue to keep a close eye on that. And of course, the level to keep an eye on there as well, 3,647. That would be the closing low this year thus far. We'll see if we hold above that level as of right now, but slipping just a little bit more here.