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Equity Roundup: Near Late Session Lows

US STOCKS

Risk-off theme continues, stocks testing session lows, Rates near highs in late trade.
Recent headlines contributing to the tone:

    • STOXX TO REMOVE 61 RUSSIAN COMPANIES FROM INDICES: FT
    • EU ENVOYS APPROVE LIST OF 7 RUSSIAN BANKS TO BE CUT OFF SWIFT
  • Earlier draft list of seven banks: VTB Bank PJSC and Bank Rossiya Bank Otkritie, Novikombank, Promsvyazbank PJSC, Sovcombank PJSC and VEB.RF.
  • Knock-on pressure for Large US Banks: JP Morgan (-5.55% to 133.94, -7.90), Goldman Sachs (-3.82% to 328.10, -13.02), Bank of America (-4.92% to 42.03, -2.17). American Express (-7.49% to 179.86, -14.38)
  • Airlines: Boeing (-5.24% to 194.59, -10.76); Delta (-5.05% to 37.90, -2.0)
  • Weak auto sales weighing on Honda (-2.68% to 29.74, -0.82), sales in Feb down 20.6%.
  • SPX Eminis -73.25 points (-1.68%) at 4295.25; Dow Industrials -674.35 points (-1.99%) at 33215.18; NASDAQ -210.5 points (-1.5%) at 13541.24.
  • SPX lagging sectors:
    • Financials -4.07%
    • Materials -2.54%
    • Information Technology -1.96%

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