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US stocks drop back into the doldrums

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Dip buyers lose momentum

It’s a rollercoaster today in equity markets. The impressive rebound from opening levels has now evaporated and stocks are at the lows.

The S&P 500 is down 72 points or 1.7% to 4117. The Nasadq is also down 1.7%.

FX (particularly commodity FX) is trading in lockstep with stocks. USD/CAD is now back higher on the day at 1.2109 from a low of 1.2079 a short time ago.

Dip buyers lose momentum
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