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Stocks Resume Slide Shortly Following Opening Bell

  • Sell-off in US equities resuming in recent trade shortly following the Wall Street opening bell. E-mini S&P now narrowing in on the overnight lows after trading solidly throughout European hours.
  • 4476.25/4477.50 marks first intraday support with the 20-day EMA having helped hold up prices previously.
  • No news drivers or headline catalysts to drive the latest move, with real estate and utilities remaining the poorest performing sectors.
  • Move is largely contained to equities at present, with no real follow through across either fixed income or currency markets.

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