The first trading session of September started with a widespread selloff across risk assets, as traders took a cautious approach ahead of what is historically a volatile month for global markets. At 1 p.m. in New York, the S&P 500 had dropped 1.6%, while small-cap stocks nosedived 2.7%. The Magnificent Seven, tracked by the Roundhill Magnificent Seven ETF (NYSE:MAGS), offered no safe haven, declining 2.3%. The CBOE Volatility Index (VIX), often referred to as Wall Street’s “fear gauge,” surged b