European equities are starting the session on the backfoot as major indices in the region are seeing red across the board. This comes as broader market sentiment remains fragile after the turnaround selling in Wall Street overnight. Spanish and Italian stocks are leading the declines, while the DAX and Eurostoxx are also facing notable selling pressure.
Here’s how things are shaping up at the open:
- Eurostoxx -0.9%
- Germany DAX -0.9%
- France CAC 40 -0.5%
- UK FTSE 100 -0.3%
- Spain IBEX -1.1%
- Italy FTSE MIB -1.1%
It’s looking like a rough one with European indices also needing to account for the late retreat in US stocks yesterday too. The continued selling pressure isn’t providing much confidence for dip buyers, especially with US political uncertainty surrounding today’s midterm elections adding another layer of caution.
US futures are also looking more tepid today after Apple earnings failed to inspire, with S&P 500 futures down 0.2% and Nasdaq futures looking flat at the moment. All eyes will be on whether Apple will drag broader tech sentiment into the mud again later today and whether any semblance of a rebound can hold in the day ahead.
For now, its a troubling mood with European investors also struggling to find a foothold as broader markets remain reluctant to take on more risk.
This article was written by Justin Low at investinglive.com.