Markets are getting reacquainted with this thing called selling.
So far, the downside hasn’t been particularly dramatic, but it’s still worth noting.
Yesterday the Dow fell over 100 points.
Today, French stocks are down 0.75%, Germany is down 0.66%, and the UK is off 0.65%.
The Nikkei slipped 0.7%.
US futures are off a bit today.
The big event during the day will be the latest revision to Q1 US GDP. It’s expected to be sharply negative. Because it’s so backwards looking, and because the data has come back so strongly in Q2, it’s unlikely the report will be market moving, but it will be closely picked over by economists.