No End in Sight to Stock Rout as Traders Say Bad Day Was Overdue
- Futures signal further sell-off after declines in Asia, Europe
- More hedging activity reported by traders after market rout
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The S&P 500 was set to extend losses after Wednesday’s stock rout spread to Asia and then landed with slightly less force in Europe.
With a sector rotation hammering pricey technology stocks, Treasury yields hovering near the highest in seven years, a trade war bubbling up and luxury stocks suffering from Chinese border checks, investors had plenty of reasons for caution.