Here’s a snapshot of things:
S&P 500 futures -3.0%Nasdaq futures -4.6%Dow futures -2.1%Russell 2000 futures -5.3%
At one point, Nasdaq futures were down over 6% so the rout in tech shares is at least not getting much worse for now. It’s a full-fledged flight to safety mode with traders chasing the usual safe havens. Bonds are bid and so is the Japanese yen and Swiss franc. Besides that, it’s pretty much a sell everything else case in broader markets to start the week.
From earlier:
Japan’s Nikkei closes down by a whopping 12% to its lowest since November last yearVolatility is back with a bangFrom soft landing to crash landingPoll: Is the Fed behind the curve on cutting interest rates?A reminder of the one thing that traders have been getting wrong since last year
This article was written by Justin Low at www.forexlive.com.
