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US Equities Slipping Further


No major headline crossing to trigger the latest leg lower in equity markets. The USD has been firmer throughout the session and that trend's extended in recent trade. Financials have been weaker from the off, with poorly received earnings from JPM, WFC and C all lower. Wells Fargo are seeing particularly weakness, off 7.5% in recent trade.

A few risk-negative headlines crossed in recent trade:

  • Slightly weaker than expected UMich headline
  • Brazil confirming reinfection via the new COVID-19 strain
  • Trump issuing a warning to Mexico over USMCA (although this is not new news)
  • Continued frustrations with Pfizer's vaccine deliveries, after a group of EU countries had been told deliveries of the vaccine would be substantially reduced. This was already known, but reiterated over the past few minutes.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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