U.S. Futures Already Bleeding Post Shanghai Collapse

The pain is in Asia. The TOPIX is down by 1.71%, Hong Kong’s Hang Seng by 2.14% and China’s CSI by a whopping 5.35%.

Yet the Euro is hurting too, down against the dollar and currently at $1.23 after dropping by -0.45%. Gold is at $1,234.

Mixed results in Europe with the London FTSE up by 0.16% but the German DAXand French CAC down by 0.01% and 0.79% respectively. U.S. futures in the red as are commodities ex-gold as per Finviz below. We expect particular weakness in non-gold commodities today based on China weakness.

Chart

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