Overnight saw a distinct “risk off” session for US stocks with the S&P500 falling -1.7%, although an hour before the close the market was off substantially more. Keen buying of the dip into the last hour was noticeable and while the market finished lower, the sell-off was far from aggressive. Our optimum target area for this largely followed global index is now only ~4% lower.
MM remains a keen buyer of US stocks ~4% lower
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