Ris aversion hits hard late once again

<p>The S&amp;P 500 closed at the lows in each of the past three days with selling picking up late int he day in each case. The selling has started a bit earlier today and it's spilled over into USD/JPY as the pain is enough to drag yields from the highs.</p><p>The trigger for the latest wave of selling was a break of the July low 4385 and we're now at the worst level since June 28.</p><p>Tomorrow is monthly options expiration and along with the <a href="https://www.forexlive.com/news/odte-options-are-an-accident-waiting-to-happen-20230817/" target="_blank" rel="follow">spike in 0DTE options trading</a>, there is no good reason to fight this price action.</p>

This article was written by Adam Button at www.forexlive.com.