Late Equity Roundup: SPX Just Through 50D EMA Support

Stocks continue to extend session lows in late trade, SPX eminis just through 50DMA of 4089.67. Double-tap of hawkish policy headlines from the ECB contemplating a 75bp move next month underscoring Fed Chairman Powell higher rates for longer/restrictive stance took air out of early bid/triggered sell-off in early trade. Potential DOJ antitrust suit vs. Apple weighing on Tech and Communication Services share late in the session.

• Early support: SPX traded mildly higher early that US/China regulators were near agreement on audit inspections -- forestalling concerns some 200 China firms could be delisted - unsure where that leaves the half-dozen that said they would voluntarily delist themselves last week.
• Currently, SPX eminis trade -112 (-2.67%) at 4089.25; DJIA -754.74 (-2.27%) at 32538.18; Nasdaq -406.3 (-3.2%) at 12233.
• SPX leading/lagging sectors: Energy (-0.39%), Utilities (-1.04%) and Consumer Staples (-1.53%) weathered the sell-off the most. Laggers: Information Technology (-3.42%, Communication Services (-3.28%) and Consumer Discretionary (-3.25%) close behind. Aside from APPL, media and entertainment reversed the prior session gains w/Google -4.62%, Dish Network (DISH) -3.85%.
• Dow Industrials Leaders/Laggers: Merck (MRK) -0.38 at 89.89, Verizon (VZ) -0.40 at 43.34, Walgreens Boots (WBA) -0.62 at 36.18. Laggers: Home Depot -10.10 to 299.68, Goldman Sachs (GS) -9.11 to 337.38, Salesforce.COM (CRM) -8.14 at 165.77.