Everything's Going Down

Good morning!

After Friday’s stock market drubbing — which was largely concentrated in momentum stocks — everything’s lower again today.

The selling began in Asia, where the Nikkei lost 1.69%.

Stocks are lower across the board in Europe. Germany’s DAX is down 1.5%. The UK’s FTSE 100 is down 0.7%.

US futures are all lower, with the NASDAQ, once again, taking the worst of it, pointing to a decline of 0.7%.

There’s not much economic data this week as is typical for the second week of the month. However, earnings season is beginning soon, so that will become the new story.

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