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Equities Take on Water Following London Close

EQUITIES
  • Possibly some geopolitical risk starting to be reflected in equities prices over the past ten minutes or so - timing doesn't quite match up, but looks like weakness in equities after the London close may have accelerated on Iranian Press TV headlines that the country will "give a strong and crushing response to any measures against its interests and national security" - although not unexpected from Tehran. Latest Russia-US headline could also be contributing.
  • Nonetheless, worth noting the oil price slippage today, with both Brent and WTI off sharply (both benchmarks off around 4%) which wouldn't suggest an uptick in geopolitical risk.
  • Volumes still a touch light, with contracts crossing in the E-mini S&P below recent averages for this time of day. Energy and materials again the poorest performing names in the S&P 500 so far.

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