Nikkei 225 trades at session lows currently
Japanese stocks have fallen to their lowest levels since April and are leading losses in Asian trading today. The Shanghai Composite is down by 1.6% but that's pretty modest in comparison to the Nikkei's 3.7% decline seen so far as we head into the close.
It's pretty much a red day in Asian trading and despite a mini-spike of 7 points in E-minis, it's failed to lift the mood of equities in Asia.
It's now over to European trading and I would expect the negative tones to continue. As such, that will help keep the yen and swissie bid unless we see a dramatic turnaround to the upside in US equity futures during the session.
But even so, it's hardly a confident signal of how the US cash equity market will perform these days. And that makes for a tricky trading session still to come in the day ahead.
