Risk sentiment grows softer to start European trading

S&P 500 futures extend fall to 0.7%

Nasdaq futures are back down by over 1.2% currently and that is dragging European indices to fresh lows just after the softer open earlier. The DAX is now down 1.7% after having opened just a little over 1% lower to kick start the session.

Again, just be mindful of the selling here in case it starts to make translate into negative risk flows in the major currencies space; vice versa.

For the Nasdaq, the drag in futures is one that will make things more interesting when the cash market opens as the index looks set for a dip below its 100-day moving average:

A test of a key trendline support also beckons if the losses keep up.