Risk sentiment keeps more cautious as tech sells off
The rotation out of tech stocks is tempering with the overall risk mood today, after a brighter start early on in Asian trading.
Nasdaq futures are trading close to the lows for the day, down a little over 1% and the tech selloff is also evident in Asia with the Hang Seng down 1.2% - led by a drop in the tech sector, which is down by roughly 6.5% at the moment.
As much as the market shrugged aside the moves from the non-farm payrolls report on Friday, the coast is still far from clear as Treasury yields stay elevated.
Europe may be less impacted by the rotation out of tech for now. However, if the jitters spread more profoundly, it'll likely drag broader risk assets down along with it.
