US equity markets sold off in the final hour of trading, once again relinquishing an earlier rally - Dow down -313-points or -0.89%, falling for a fifth straight session having climbed over >400-points earlier in the day. The 30-stock average closed below its 200-day moving average for the first time since December 2021. The broader S&P500 -1.10% to 4,482.73, settling below 4,500 for the first time since October last year after relinquishing an earlier +1.53% rally. Consumer Discretionary (down -1.94%), Materials (-1.49%), Information Technology (-1.33%), Industrials (-1.10%) and Communication Services (-1.14%) all dropped over >1% to lead ten of the eleven primary sectors lower. The Utilities sector (up +0.14%) was the only primary sector to advance. The Nasdaq -1.30%, giving up an earlier rally of as much as +2.1% and pushing further into official correction territory. The small capitalisation Russell 2000 -1.88%. Peloton Interactive Inc slumped -23.93% to US$24.22 per share after the stationary bike maker announced it will temporarily halt production of its bikes and treadmills due to waning demand as it tries to control costs. The news saw the stock drop below its September 2019 initial public offer price of US$29 per share. The stock hit an all-time intraday high of US$171.09 on 14 January of last year.