Steep falls on Wall Street as scepticism mounted around the significance of the trade truce agreed between the US and China and with investors eyeing a flattening US yield curve - Dow tumbled -799-points or -3.1% The broader S&P500 lost -3.24%, falling below its 200-day moving average and with Financials (down -4.4%) leading ten of the eleven primary sectors lower. Utilities (up +0.16%) was the only sector to advance. The technology-centric NASDAQ shed -3.78% and fell back into official correction territory, with the FAANG complex shedding more than .US$140b in market value. Facebook Inc down -2.2%, Amazon Inc -5.9%, Apple Inc -4.4%, Netlfix Inc -5.2% and Google parent Alphabet Inc -4.8%. All three benchmark indices logged their worst performance since 10 October and more than unwound Monday night's AEDT strong gains. The small capitalisation Russell 2000 index dropped -4.4% and posted its worst session since 2011. US bond and equity are CLOSED tonight AEDT to honour former President George H.W. Bush, who passed away last Friday (30 November) at 94 years of age.
