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Stocks Slide, With Sizeable Sell Program Triggering the Move

EQUITIES
  • Sizeable pullback in US equities over the past 15 minutes or so - e-mini S&P sliding to new daily lows of 4814.50 before stabilising. Sell-off most notable in the NASDAQ-100 future, which now sits lower by 0.5% on the day (E-mini S&P down 0.3%, DJIA mini down 0.3%). Worth recalling the NASDAQ-100 had chalked up gains of over 50% year-to-date - so profit-taking could be at play.
  • Move lower coincides with a decent sell program evident via the NYSE TICK Index at 1047ET, as over 1,200 names are sold concurrently.
  • No specific news or data catalyst triggering the move, but liquidity was expected to be thin, with volumes light into the early close across a number of US exchanges (details shared above).
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
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MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Homepagemarkets-real-timeEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsAT&T Market NewsBank of America Market News

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