Loss of Market Momentum, Mega-Cap Weakness, USD/JPY Nearing Worrisome Carry Trade Unwind Levels

The rebound effort off last Thursday’s low started to stall Tuesday. Early strength in the broader market succumbed to some afternoon selling pressure. Market drivers were diverse: from rates, to news, earnings, economic data, geopolitical events, Fed-speak and ongoing AI disruption concerns. The averages dipped toward the close on the headline, “U.S. Mulls Seizing Tankers…