Risk aversion carries over to Europe in early trades

  • German DAX futures -1.1%
  • UK FTSE futures -1.1%
  • Spanish IBEX futures -1.2%

Despite Powell's promise to maintain easy policy for quite some time yet, sentiment is still on the dour side as the latest pullback in the market looks set to extend.

The mess created by meme stocks is perhaps playing a small role but profit-taking activity after having hit another all-time high in trading this month isn't anything unfamiliar.

If anything, it is more of a question of how deep the pullback will run before dip buyers step back in considering that the Fed put is still in play.

Elsewhere, US futures are also keeping more subdued for now with S&P 500 futures down 0.5% and Nasdaq futures down 0.7%.