PMIs on the agenda in European trading today ...Middle East

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The big one to watch will be later in US trading, with the ISM services PMI for July coming up. With markets already reeling after the US jobs report last week, this might just exacerbate that sentiment further especially if we see a poor reading.As for European trading today, it looks like emotions are still running high and the angst is continuing. Japan's Nikkei is now down 9%(!) on the day and is down over 16% on the month already. If held, that would represent the largest monthly decline since the global financial crisis back in 2008.Meanwhile, US futures are also still selling off heavily with tech shares bearing the brunt of it. S&P 500 futures are down 1.8% and Nasdaq futures down 3.

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