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Risk-Off Extends, E-mini S&P Hits Fresh Lows

EQUITIES
  • Market's risk-off poise extending in recent trade, with e-mini S&P printing a fresh session low while Treasuries rally to the best levels of the day. Greenback also surging in currency space, putting the USD at the day's highs vs. EUR and GBP.
  • No notable headline flow driving the move, with price action extending after the London close. Volumes across stock futures pick up on the move lower, with evidence of programmatic selling also evident (1,198 names sold on the downtick - largest of the session).
  • Yesterday's opening gap lower undercuts as next support for the index at 4251.75.

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