US markets open lower inline with..........>

EQUITIES: US markets open lower inline with futures and sustain losses in early

trade. The Dow Jones and S&P are lower by over 2% apiece in early trade, with

firms with disappointing earnings leading the way down.

- 490 names in the S&P500 are lower at the open, but some notable stocks opened

with gains: American Airlines, Delta Airlines, UnitedHealth and Netflix (which

hit an alltime high).

- Energy and financials are the weakest on a sectoral basis, with bulge bracket

banks all lower: Bank of America down 5.9%, Goldman Sachs down 3.9%, Citigroup

down 4.8%.

- The VIX has seen some support after retreating to a new cycle low of 37.31,

climbing back above the 50-dma at 41.56.