Risk sentiment is not looking pretty as we start to transition to the handover from Europe to North America. Equities are tumbling further as the mood sours and we are seeing more notable moves across the market.
European indices are closing in on 2% losses now while US futures have made a U-turn to be posting rather modest declines now ahead of the open later. S&P 500 futures are down 0.5%, Nasdaq futures down 0.8%, and Dow futures down 0.4%. It was very much the reverse earlier in the day when we started European morning trade.
As such, we are seeing that keep the dollar more bid across the board as pointed out here.
Elsewhere, oil is down 0.4% to $84.80 after last week's potential breakout faltered and we are seeing cryptocurrencies routed badly with Bitcoin now bordering on a 9% drop to $33,000.
