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Stocks Trade at Session Lows Pre-NY

EQUITIES

European equity markets are uniformly lower ahead of the NY open, with most continental indices down around 1-1.5%, although Spanish and German names are notable underperformers, falling 2% or more. Energy and communication services names are leading losses in Europe, with defensive healthcare and consumer staples shielded from the sharper move lower.

It's a similar scene in US futures space, with the e-mini S&P off just over 30 points and opening a gap of just over 75 points with the alltime highs printed earlier in the week.

Focus remains on the lack of dealmaking worldwide, with no resolution in sight seen in Brexit talks and US stimulus, government funding still seen a way off.

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