Japan dropped 2% while all major indices were in the red:
- MSCI Asia Apex 50 -0.8%
- Japan’s Nikkei 225 -2.0%
- Hong Kong’s Hang Seng -0.6%
- China’s CSI 300 -1.4%
- Australia’s ASX 200 -1.5%
European stocks have been hammered too, following last night’s U.S. bludgeoning, and as Moody’s threatens to remove Spain’s AAA sovereign rating.
- Britain’s FTSE 100 -1.1%
- France’s CAC 40 -1.8%
- Germany’s DAX -1.4%
The euro is nevertheless holding up, at $1.23. While the Spanish 10-year yield is rising, so far its response appears muted relative to Moody’s threat, at 4.57% as shown by the Bloomberg graphic below:
U.S. futures are nevertheless once again trying for a positive open. Note this is what we saw yesterday pre-market, before U.S. indices dove on negative economic news. Let’s hope we don’t get another repeat today.
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