Government 'antitrust overreach' - is being seen as a concern by markets, at the same time few are disturbed by existential threats of 'Ai' which they've not focused on as much as challenges against Amazon or Google recently, not just the obvious ones involving Apple.

Pixabay

I'm not taking position on the specifics, but it's fairly clear 'Gov'ment' isn't out to help citizens enjoy products they really value, even if those companies of course have sometimes exceeded in becoming 'too big' (by whose measure one might ask?). People like iPhones and Amazon Prime, and yes there's a bit of 'greed' involved when it comes to 'Apple tax' on vendors selling there, or the threat (very real) of Amazon making a 'knock-off' version of their own when a product is particularly successful 'in volume'. (Luggage an example.)

Basically Monday was a breather, sort of month-Quarter-end churning, not a definitive session. The key economic data point of the month is the PCE, and that is well-watched (matters to the Fed deliberations), but release is Friday, a session closed for Good Friday. So not much can be deduced from all this.

You do have over-excitement in some small caps, then they retreat, and then a period of sorting-out whether their moves are over, or a phase before more. I do suspect 'if' we get through a week or two without much of a correction (by no means is that certain), then action will return, especially smaller-caps.

The tragedy of the Islamist attack in Russia is not a market factor, unless the obsessed Putin decides to 'really' use an attack with nothing to do with Kiev as an excuse (so far he is doing that).

Market X-ray: 

Yes, some politicians want to make big companies less potent, but that's somewhat an excuse by analysts, who are looking for an excuse for the S&P to set-back somewhat, with meaningful correction relatively overdue.

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