Stocks trade lower after two-day bounce

NEW YORK, New York - U.S. stocks traded lower on Thursday, extending losses from Wednesday after a two-day bounce.

Josh Brown, the co-founder and CEO of Ritholtz Wealth Management, told CNBC's Halftime Report that there are very few stocks in the uptrend right now.

I think these rallies are innocent until proven innocent. We're going to have these rips but like, the market gets turned away from the 200 day day all the time this year. And until that changes, I don't think there is any reason that anyone should change their mind from the current psychology, and that lower high, lower low trap that we've been in since January 3rd is still intact, Brown said.

He said that it's not a complicated market to figure out.

The Dow Jones industrials lost 346.93 points or 1.15 percent to 29,926 on Thursday. The Nasdaq Composite fell by 75.33 points or 0.68 percent to 11,073. The Standard and Poor's 500 dropped 38.76 points or 1.02 percent to 3,744. The U.S. dollar went ahead as stocks fell. By New York on Thursday, the euro fell to 0.9799. The British pound fell to 1.1165. The Japanese yen fell to 145.09. The Swiss franc was lower at 0.9902.

The Canadian, Australian, and New Zealand dollar were lower at 1.3744, 0.6412 and 0.5658 respectively.

The FTSE 100 in London dropped 0.78 percent on overseas equity markets. The CAC 40 in Paris was off 0.82 percent. In Germany, the Dax fell by 0.37 percent.

In Japan, the Nikkei 225 lost 236.04 points, or 0.87 percent, to 27,356. The Australian All Ordinaries were flat, finishing up by 2.60 points or 0.04 percent at 7,033. In New Zealand, the S&P NZX 50 declined 54.77 points or 0.49 percent to 11,125. The Hang Seng lost 75.82 points or 0.42 percent of its value in Hong Kong to 18,012.