US futures slump after the aggressive tech buying yesterday
S&P 500 futures are down 1.5% while Nasdaq futures are down by 2.0% after posting modest gains in trading yesterday, following the slump on Wednesday.
The key thing to note about yesterday was that there was someone or some quarter of the market that was aggressively buying up tech stocks ahead of the massive wave of earnings releases - which on the balance of things, were pretty solid.
However, that doesn't seem to be enough to satisfy the market appetite as we start to see sentiment crumble and the jitters from earlier in the week begin to resurface.
USD/JPY is lower to 104.20-25 currently but I would expect the dollar to also pick up on some of the moves later on when European traders enter the fray.
Over in Asia, the Nikkei is now seen down by over 1% at session lows with the Hang Seng down by 0.9% and the Shanghai Composite down by 0.5%.
