Wall Street Turns Defensive As CNBC Committee Refuses To Sell

Wall Street desks turned defensive as September began, while CNBC’s Investment Committee said none of its four members plans to sell. According to BeInCrypto, the split comes after 27 record closes this year and ahead of September, historically the weakest month for stocks. Scott Rubner of Citadel Securities said earnings are done, buybacks will fade after companies authorized more than $1.1 trillion through August, retail dip-buying is weak and hedges are cheap. Bitcoin (BTC) also traded near $77,130, down over 2% in 24 hours.