US equity markets retreated amid some profit taking as investors brace for a busy week of central bank meetings - Dow fell -320-points or -0.89%, with Boeing Co (down -3.74%) a notable drag on the index. The broader S&P500 lost -0.91% a day after logging its 67th record closing high of 2021 (4,712.02) and settling ~0.7% from its all time intra-day high. Energy (down -2.77%) and Consumer Discretionary (-2.44%) both fell over >2% to lead seven of the eleven primary sectors lower. More defensive sectors outperformed, with Real Estate (up +1.32%), Utilities (+1.21%) and Consumer Staples (+1.20%) all advancing over >1%. Re-opening plays like airlines (American Airlines Group Inc fell -4.94%, and Delta Air Lines Inc -3.43% and United Airlines Holdings Inc -5.24%) and cruise lines (Carnival Corp down -4.88%) were among the biggest losers overnight. Tesla Inc fell -4.98% to US$966.41, taking the electric vehicle maker’s decline in December to over >14% and putting the stock in official bear market territory, down -21.4% from its 4 November high of US$1,229.91. The Nasdaq shed -1.39%. The small capitalisation Russell 2000 declined -1.27%. Harley-Davidson Inc (up +4.70%) announced that it is spinning off its electric bikes division, LiveWire, and listing it on the stock market through a merger with a blank-cheque company (AEA Bridges Impact Corp, a special purpose acquisition company (SPAC) run by executives of private equity firm AEA Investors and investment group Bridges Fund Management). The deal gives LiveWire an enterprise value of US$1.8B.