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Stocks Sink Off Highs in Turbulent Session

EQUITIES

US equity futures crested at new all time highs ahead of the NY open and the cash bell on Wall Street was an uneventful affair until a stream of selling saw the e-mini S&P shed around 1% inside 10 minutes. The flurry of sales resembled programmatic selling which, once abated, allowed prices to recover, but remain on the backfoot for the rest of the trading day.

In the US, consumer discretionary and tech firms sagged, while energy outperformed. The CME Group traded post-earnings, while Twitter shares surged on a decent sales turnout in their latest report.

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