Global stocks are selling off again

Good morning!

Stocks around the world are selling off again, a continuation of Tuesday’s move lower as markets start to act like last week’s positive price action was merely a head-fake.

In the US, Dow futures were off about 130 points, S&P 500 futures were off 15, and Nasdaq futures were down 46.

On Tuesday the Dow lost 188 points, the S&P 500 fell 24, and the Nasdaq lost 67.

In Europe stocks were also lower with the Euro Stoxx 50 off about 2.5%, the Dax in Germany down 2.4%, London’s FTSE down about 1.5%, and the CAC in Paris off 2.3%.

Overnight, Japan’s benchmark Nikkei index fell about 0.9%.

Major currency moves early Wednesday included a slide both the euro and pound against the dollar, with the euro down about 0.5% to around $1.096 and the pound off about 0.9% to as low as $1.388.

After a busy day Tuesday its a calmer morning in US economic dat with readings on the services sector and the housing market due out later this morning.

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