A strong start in US equities didn't last 15 minutes as the S&P 500 gave back a 44 point gain. The Nasdaq is now also down 0.3% led by a 6% plunge in Tesla shares and ongoing pain for other megacap tech names.
The moves have translated to a strengthening US dollar, reversing a portion of the earlier losses. The moves are uneven with EUR/USD giving it all back while commodity currencies have only given back a small chunk.
EURUSD 10 mins
The ISM services data is due at the top of the hour followed by a handful of Fed speakers.
