Equities: Broad US pullback as tech limits losses

Deutsche Bank strategists note a broad-based decline in US equities, with the S&P 500 down 0.58% and more than 70% of its constituents lower. Technology stocks proved relatively resilient as chipmakers recovered, while European markets were largely subdued and Asian equities struggled for traction outside South Korea. US equity futures point to a modestly firmer start.

Broad US decline, with tech outperforming

“In the US, the S&P 500 (-0.58%) fell back as part of a broad-based decline, with more than 70% of the index lower on the day.”

“The Nasdaq (-0.32%) and the Mag-7 (-0.35%) saw slightly smaller declines thanks to a recovery in chipmakers…

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