Markets sold off sharply during Thursday's session, with S&P 500 futures dropping nearly 80 points and the Nasdaq falling almost 2%. The decline began around 10:15 a.m. CT, coinciding with dollar strength despite lower yields. Sector rotation continues to drive market action in 2024, with formerly strong tech names under pressure while consumer staples like Walmart and Costco showed resilience. Software, transportation, and commercial real estate stocks have been particularly hard hit, with CBRE and CH Robinson experiencing unusually large declines. Despite the sell-off, VIX remained relatively subdued at 20.25, suggesting market participants anticipate another potential reversal. Gold and silver also declined significantly, with silver dropping 8.6% and crude oil approaching $60, down 3%. The hosts discussed various trade opportunities in the volatile environment, including SPX spreads, Microsoft positions around $400, and a Coinbase earnings double calendar ahead of its after-hours report.

Markets sold off sharply during Thursday's session, with S&P 500 futures dropping nearly 80 points and the Nasdaq falling almost 2%. The decline began around 10:15 a.m. CT, coinciding with dollar strength despite lower yields. Sector rotation continues to drive market action in 2024, with formerly strong tech names under pressure while consumer staples like Walmart and Costco showed resilience. Software, transportation, and commercial real estate stocks have been particularly hard hit, with CBRE and CH Robinson experiencing unusually large declines. Despite the sell-off, VIX remained relatively subdued at 20.25, suggesting market participants anticipate another potential reversal. Gold and silver also declined significantly, with silver dropping 8.6% and crude oil approaching $60, down 3%. The hosts discussed various trade opportunities in the volatile environment, including SPX spreads, Microsoft positions around $400, and a Coinbase earnings double calendar ahead of its after-hours report.