Major stock indices move lower as regional bank stocks tank

Yahoo Finance Live’s Brad Smith breaks down how stocks are moving shortly after the opening bell on Thursday.

Video transcript

BRAD SMITH: We're taking a look at markets right now 30 minutes into trade today. The Dow Jones Industrial Average right now, that slipped just a little bit lower from where we opened up today's activity. As of right now, you're seeing it down by about 3/4 of a percent. The NASDAQ Composite, you're seeing that lower over the past four days by about 2%, adding on to some of those declines this morning by about half a percent here.

I'll put this on an intraday view just so you can see exactly where some of the activity has perspired this morning-- or transpired this morning. And the S&P 500, you're seeing that in the red as well right now by a little more than half a percent, about 6/10 of a percent in the red, 24 points to the downside there for the S&P 500.

Let's take a look at some of the sector activity for the 11 S&P 500 sectors. Energy is actually higher here today by about 2/10 of a percent, but really only two bright spots here with energy and real estate kind of leading the way and flip flopping their leads. But as of right now, you're seeing financials on a big day where banks continue to be in focus. Financials lower by about 1.2%.

This activity coming after the Fed's decision yesterday and then additionally here, the commentary from Fed Chair Jerome Powell acknowledging what's taking place in the banking sector. We'll continue to see what continues to move forward there.

I want to also just zero in on-- well, I was going to do it on technology a moment ago before things moved around. XLK, taking a look at tech. Right now, you're seeing that down by about 6/10 of a percent.

And why focus in on technology? Oh yeah, you've got trillion-dollar company in Apple that's going to be reporting earnings later today after the close. Apple right now going into that earnings event down by about 1.3%. We'll see where that continues to move as we go on throughout the rest of today's session, Rachelle.