Another session of >1% falls for the benchmark US indices overnight to cap the worst monthly performance for equity markets in 2-years - Dow fell -380-points or -1.50% (Caterpillar Inc down -4.11% and 3M Co -2.19% the biggest decliners) and the broader S&P500 -1.11% to snap a 10-month winning streak for both indices. On a total-return basis, the S&P 500 fell 2.6% over the course of the month. That drop represents the benchmark index’s first such decline since October 2016 and bringing an uninterrupted 15-month rally to a close - comfortably the longest such streak in the history of the S&P (according to Dow Jones data, the previous record was a 10-month rally that ended in September 1995). Over the entire 15-month period, the S&P advanced more than 36% on a total-return basis, with the index rising from 3,758.7 at the end of October 2016 to 5,120 at the end of January. The S&P hit dozens of records over that period, and the 5.7% advance seen in the first month of this year represented the biggest monthly advance since March 2016. The technology-centric NASDAQ -0.78% to leave the index nursing its biggest monthly decline since October 2016. Music streaming service Spotify has filed for a direct listing of up to $US1B with the US Securities and Exchange Commission. For the month of February, the Dow lost -%, S&P500 -3.9% and Nasdaq -1.9%. The dollar index rose +0.3% to 90.63 to be on track for its best month since in over a year
