Major indices down over 1% in Europe at the open
- Eurostoxx -1.1%
- Germany DAX -1.4%
- France CAC 40 -1.5%
- UK FTSE -1.2%
- Spain IBEX -1.6%
The declines here are exacerbated by the fact that European indices closed modestly lower yesterday, just before the sharp fall in US stocks came about late on.
US futures are seen down roughly 0.8% to 0.9% across the board at the moment, so the overall risk mood is looking rather dour as we get the session underway.
Supply bottlenecks, inflation worries, and a stalemate in Congress are among the issues that are getting investors nervous. Take your pick. If not, one can also attribute it to a pullback from recent highs with the transition from September to October also being one of the weaker periods for equities in general during the year.