A bit of a retracement after the historic falls seen yesterday

  • Eurostoxx +3.5%
  • Germany DAX +3.7%
  • France CAC 40 +4.0%
  • UK FTSE +3.0%
  • Spain IBEX +6.5%

This comes as we are also seeing a more positive mood in US futures today, amid a strong turnaround in sentiment about four hours ago.

That said, this doesn't mean that we have found a bottom. It is still early in the day to be drawing any conclusions from the move here.

And even if stocks end the day higher, the overwhelming decline from the last two days will overshadow the happenings today. 15-20% declines are not your every day fall in any market, and retracements or dead cat bounces are to be expected.