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Quadruple Witching Rocks Stocks

EQUITIES

US equity markets sold off into the Friday close, with the e-mini S&P testing the Wednesday lows at 3680. As was the case at the open, no real headline catalyst or driver for the pull lower in equities, but volatility being propped up by quadruple witching as stock index futures & options and single stock futures & options all expire.

Real estate led losses in US equity space, closely followed by energy, with all ten sectors in the red.

The VIX saw decent support after a few sessions of losses, but gains were thin ahead of the Christmas break.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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