Daily Financial Markets Chart Wrap

•Equities got a good start to the day with Japan up some 6% overnight, but the momentum faded quickly once US markets opened
•US stocks were down 1.4% on the day
•The weakness in stocks was driven by Energy, but all sectors were noticeably weak throughout the day, save a mid-day rally attempt by Health Care and Tech
•EMs erased most of their overnight strength throughout US trading hours thanks in part to Mexico and Brazil
•EM Tech remained fairly resilient
•Developed and Emerging Market Knowledge Leaders outperformed again today, as they have consistently done throughout turbulent markets this year
•Over the last year Developed World and Emerging Markets Knowledge Leaders have bettered DM and EM stocks by about 7.3% each
•Over the last year, DM stocks are down 6% and EM stocks are down 27%
•Government benchmark bond yields were flat to higher on the day despite the weakness in US equities
•FX was muted on the day save a near 1% drop in the Ausi dollar
•The commodity complex was tame besides the bear 4% give back by WTI from overnight highs

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