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Equity Markets Softer Out of the Gate

EQUITIES
  • Downtick in US equity markets in recent trade, with the e-mini S&P hitting new daily lows and pulling further off the record highs printed just ahead of the Friday close.
  • Consumer discretionary and industrial firms leading losses, with Tesla hit particularly hard (-4.2%) after news of a fatal crash over the weekend. Re-opening stocks also weak, with Penn Gaming, Caesars and American Airlines among the session's poorest performers.
  • Looks like a sizeable order may have crossed on the most recent downtick judging by the spike in volume - could be the market driver here. No notable headline catalysts so far.

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