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Stocks Are NOT "Off The Lows", AAPL Slumps 3% As Liquidations Begin

Desk chatter confirms liquidations are occurring ahead of expected margin calls later in the day. This is evident in widely held stocks like AAPL which just plunged on very heavy volume and has dragged the "off the lows" bounced US equity indices back to their lows of the day...

AAPL in trouble...

 

Brief USDJPY-driven v-shaped recovery sent S&P back to VWAP (to enable some institutional selling) but that has given way now that pre-emptive liquidations have begun...