US equity futures point to a soft start, especially for Netflix

Read full post at forexlive.com

The past two days were the first time in more than 20 years that the Nasdaq has erased an intraday gain of 1% and closed lower on back-to-back days, according to Bespoke.

The price action late in the day was ugly and it continued after hours . Nasdaq futures are down 157 points and S&P 500 futures are off by 30.

The big loser in the pre-market is Netflix, which is down a shocking 21, or $108 to $399 in one of the largest one-day declines in a large-cap stock ever. It’s back at the same levels it traded at in June 2018. That’s a troubling sign with earnings just kicking off.

Also of note is that there are massive options running off today, so that could add to volatility.