There is no news to trade on today. Just the battle of bearish, recession-coming sentiment vs. stocks are oversold sentiment. Some helpful retail numbers and tech earnings boosted the market early, and it has since faltered. Investors are going to focus on the past negative news until something changes. Although Wall Street trades on future events, everything is too uncertain right now, and people would rather just get out for now it seems.
The media is pushing negative commentary because it grabs headlines. They don't care what effect it may have on the market. It has little effect overall, but can scare out the individual investor. Listening to these people change their stance every day is not only a waste of time, it actually detracts from being a successful investor.