The first trading day of April was one marked by heavy selling across U.S. equity markets with all major indices off more than 2%. The Nasdaq 100 dipped negative year to date for the first time in 2018, and 10 of 11 S&P sectors are lower on the year. Real Estate has only slightly held on to gains with U.S. treasuries seeing a bid over the past few weeks. Rates have shed 20 basis points from the February highs on the long end of the curve with the 10 year settling at 2.73% yield at the close. News flow was wide ranging with Apple hinting towards ending a relationship with Intel, President Trump criticizing the USPS relationship with Amazon, and Tesla seeing some knock-on effects from CEO Musk’s April Fools bankruptcy prank. First quarter earnings reports remain a few weeks away, which leaves market participants awaiting the highly anticipated jobs report on Friday.