Market closed down as tech and industrials lagged despite AI investment.
The market closed down solidly with tech and industrials lagging, driven by a rotation out of crowded trades and rising credit stress. Next session, the market's reaction to inflation data will be key. The response to this data will tell the story.
Why it mattered: Today's close sets up a test of the market's stress tolerance heading into the next session.
What we said to watch
The market's reaction to upcoming inflation data will be crucial.
This is the reading as it was written on the day. It has not been edited with hindsight, and it may have turned out to be wrong.
Market intelligence only. Not financial advice, not a recommendation, and not an offer to buy or sell any security. No trade execution.
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