Eurostoxx futures -1.1% in early European trading ...Middle East

German DAX futures -0.8%UK FTSE futures -0.7%

This comes as broader markets are also feeling the pinch with a flight to safety in general. Trump showed that he can easily just switch on the tariffs switch and that is spooking markets a little. Sure, it is just Colombia and it will be more challenging when it comes to the EU and China. But with the tariff man, you really never know. Meanwhile, the big selloff in US tech shares is also weighing on the overall risk mood too. S&P 500 futures are now down 1.4% with Nasdaq futures down 2.4% currently.

This article was written by Justin Low at www.forexlive.com.

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