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Late Equity Roundup: Sell-Off Accelerates

US STOCKS
Equities looking to test midday lows again after FI close, completely reversing the post-FOMC relief rally by midmorning, SPX emini futures ESM2 -187 points (-4.35%) at 4108.75
  • Technicals for SPX eminis, ESM2 eying key support of 4056.0 bear trigger and May 2 low. Next key support at 4029.25 May 13 2021 high.
  • Severity of moves had desks looking up exchange circuit breakers. For reference:
    • -7% Breaker: ESM2 at 3994.25; DMM2 31,585; NQM2 12,584.00
    • -13% Breaker: ESM2 3736.25; DMM2 29,542; NQM2 11,771.75
    • -20% breaker: ESM2 3435.25; DMM2 27,157; NQM2 10,824.25
  • SPX leading/lagging sectors: Utilities underperforming the least (-1.71%) followed by Energy shares (-2.09%). Laggers: Consumer Discretionary (-6.63%) weighed by autos followed by Information Technology (-5.83%).
  • Meanwhile, Dow Industrials currently trades -1299.64 points (-3.82%) at 32762.54, Nasdaq -765.5 points (-5.9%) at 12200.54.
  • Dow Industrials Leaders/Laggers: Coca-Cola (KO) -0.79 at 64.24, Verizon (VZ) -0.90 at 47.47. Laggers: Home Depot (HD) -18.82 at 296.43, United Health (UNH -16.97 at 490.65, Microsoft (MSFT) -14.95 at 275.03.

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