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S&P Drops Sharply; Large Sell Order, Crypto Cited

EQUITIES

S&P off a quick 0.4+% in the last 15 minutes...some asking whether it's Beige Book related, but doesn't look that way. Some desks citing weakness in crypto/Bitcoin and Coinbase moving below its opening price after its direct listing debut earlier.

Catalyst for latest move though was appears to be big sell orders going through, TICK Index showing 1196 names sold just before 1400ET, most since Mar 25.

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