(These are the market notes on today's action by Mike Santoli, CNBC's Senior Markets Commentator. See today's video update from Mike above.) In last Friday's closing notes here, I offered this idea about the latest bout of market choppiness: "While the China flareup had folks comparing this tape to April's tariff panic, it's worth remembering that before April there was February, when crowded positioning in quality/momentum stocks unwound in a messy way even before the market started keying off trade hostilities." This pretty well characterizes Wednesday's action, the whipsaw in hot-money flows catching the S & P 500 in a bumpy 0.8% drop. High-momentum, more-volatile, heavily speculative stocks have broken steep uptrends and are spilling lower, even as quality, low-beta and value stocks ha

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