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Early session US volatility comes back to bite- S+P 500 slides back from higher opening
Well, no sooner was the ink dry on the previous update, than those higher US stock market openings have given way to immediate weakness. So, if ever you wanted to see another example of how this volatility can change the price action in very short order, then today is a perfect example. All three major indexes are now in the red. The Nasdaq 100 just handed back more than 250 points from its opening highs and the S+P 500, which opened towards 5,950 has just now dipped below 5,900. It sure is messy out there people and we are going to get more of the same as the session unfolds. The move lower in stocks has delivered something of risk of move that seems to have favoured the Yen once more, as the USD/JPY falls to session lows underneath the 154 handle. The S+P 500 is currently trading at 5,903
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