S&P 500 lower at the open (-1.41%) as small caps lead
S&P 500 -1.41%, Nasdaq -2.32%, Russell 2000 -0.54% at the open — the desk's open read on the tape.

The tape at the open: the S&P 500 is trading lower (-1.41%), the Nasdaq -2.32%, and the Dow -0.55%.
Small caps are lagging: the Russell 2000 -0.54%. Volatility is bid on the session (+15.83%).
Among the mega caps, META is the biggest mover at $652.49 (-6.46%), with AMZN -3.88% and NVDA -3.78%.
Elsewhere on the desk: bitcoin $81,860 (-2.66%), gold via GLD $372.10 (-1.81%), oil via USO $160.72 (+0.58%), long Treasuries via TLT $81.27 (+1.28%).
On the movers board, SAIQ leads the gainers at $7.88 (+42.1%) while NANO paces the losers (−95.6%). Names moving that fast trade thin — treat the quotes with care.
Numbers as of 10:51 ET. Follow the full tape live in the Terminal.