Risk aversion grips the market ahead of North American trading

Author: Justin Low | Category: News

It is turning into a full risk-off swing in the market now

European equities are extending losses, with the DAX down by 2% as we see the Stoxx 600 bank index hit an all-time intraday low currently. Adding to that, we're seeing a further retreat in US futures as well with S&P 500 futures down ~0.6%.

The dollar is firming across the board as such, with risk assets elsewhere also taking a hit. Oil is down 1% and gold is down by 0.6% on the session currently.

Meanwhile, 10-year Treasury yields are down by 1.1 bps to a low of 0.654% today.

Looking ahead, watch out for the 100-day moving average in the S&P 500 with the Monday low the key level to watch for the Nasdaq in case things turn even uglier today:

SPX
Nasdaq
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