US stocks siink with the Nasdaq lagging

<p>A stronger US retail sales report isn't the great news that markets wanted as it pushed Treasury yields higher across the curve and re-raised the possibility that the Fed isn't done or will have to hold rates higher for longer.</p><p>In turn, equity markets are giving back yesterday's gains and more. The Nasdaq is now down 1.0% with the S&amp;P 500 down by about half that margin.</p><p>Additionally, chipmakers are weighing after the US tightened export controls to China, closing loopholes. The move was widely telegraphed but it's led to a 5.3% drop in NVDA shares and INTC is down 2.4% in sympathy.</p>

This article was written by Adam Button at www.forexlive.com.