Equities stumble decrease, S&P 500 futures down 0.5%

European indices are decrease however not seeing as heavy losses as US futures although for now. The DAX continues to be up 0.1% with the Eurostoxx and CAC 40 each down by solely 0.1% up to now. However the UK FTSE is down 0.5% whereas the IBEX is down 0.3% on the day. The primary drag although is in US futures, with S&P 500 futures now down 0.5%.

There’s not a lot information driving the drop because it seems to be promoting flows coming in as European merchants enter the fray. Nasdaq futures are additionally marked down by 0.6% whereas Dow futures are decrease by 0.4% at the moment. So, the promoting is not simply solely tech-related.

If something, this might relate to some month-end rebalancing flows. Bonds are holding barely bid nonetheless, with 10-year Treasury yields down 2.4 bps to 4.291% on the day.

As equities stumble, the greenback continues to be discovering itself extra bid up to now on the session. EUR/USD is now down 0.4% to 1.0798 whereas GBP/USD is down 0.5% to 1.2625 at the moment.