US equities open sharply lower to catch....>

EQUITIES: US equities open sharply lower to catch up with their futures

counterparts. S&P500 has traded lower by as much as 3%, with just 5 of the

listed stocks managing to eke out gains. All the major sectors sit in the red,

with particular weakness noted in energy stocks (inline with the slide in crude

prices) and financials. Among the largest decliners are General Electric,

Marathon Petroleum, Royal Caribbean Cruises and JPMorgan Chase.

- Alongside the downtick in equity prices, the VIX is sharply higher, adding

around 8 points from yesterday's close. A close at current levels would be the

highest since 2011, when the US sovereign rating was downgraded by S&P.

- Near-term support in e-mini S&P sits at 2889.25 and 2853.25. A break through

here opens levels not seen since August last year.