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Stocks Hit Hard on No News, E-mini S&P Back Below 3,900

EQUITIES

US futures hit hard in recent trade, with the e-mini S&P dropping around 30 points to hit new daily lows of 3890, opening a decent gap with the all time highs printed in early Asia-Pac hours.

No news or headline drivers behind the move, with no clear or obvious trigger for the move. Price action resembles programmatic selling, with prices bouncing off the lows relatively swiftly.

Notably, Tesla shares had underperformed from the open, already nursing losses of close to 4% before the sharp stock sell-off.

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