U.S. equities reversed course lower
U.S. equities reversed course lower after the S&P 500 veered ahead of its 200-day m.a. at 2,761 and dipped 0.25% into the red near 2,715. A herd of Apple downgrades on iPhone sales cuts didn't help either, leaving the firm 1.8% lower near $188.67. Europe rolled over into the red as well, trailing 0.3-0.6% lower on the majors. Within the S&P PG&E was crushed 21.1% after drawing on all its revolving credit lines, as it assesses massive liabilities relating to the Camp Fire in California. Maxine Waters also vowed to rollback deregulation in the financial industry after she takes over the House Financial Services Committee in January. In the Dow, Goldman -1.4% is the next leading decliner as a result after Apple. In NASDAQ, Mylan -3.2%, Vertex -3.1% and Netflix -3.2% are all lower. VIX equity volatility has jumped 4% to the 20.8 area as a result.