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Stocks Bouncing Well, Half the Initial Dip Erased

EQUITIES

Markets retracing around half the initial move lower, with the e-mini S&P now back above the 3,900 mark. Contacts report sizeable sell programs as the catalyst for the initial move lower, with no notable newsflow or headline driving the move.

Some focus had been paid to Tesla shares which underperformed from the off (and are a sizeable constituent in the S&P) and having initially dipped 5.5%, shares have bounced by 2.3% since to trim the losses on the day notably.

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