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Indices Slip, Tech Underperforms

EQUITIES

Stocks slipped throughout the Thursday session both on the continent and stateside, with tech names underperforming and leading the NASDAQ to slip further relative to the S&P500.

Selling pressure was orderly and gradual, with no protracted weakness, but a decent ~80 point gap has now opened with the all time highs posted earlier in the week in the e-mini S&P.

The energy sector traded poorly as the fierce rally in WTI and Brent slowed, pressing oil services firms to trade with losses of as much as 5%.

In Europe, UK's FTSE-100 edged lower by 1.4%, with GBP strength a major factor. Germany's DAX was spared from the bulk of the losses and traded lower by 0.2% at the close.

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