It's a rough one out there to start the new month. As Trump goes hard on tariffs and is seen following through on some of his threats at least, we're seeing equities get hit this morning in Europe. The broader risk mood is also not gathering too much optimism, as Apple and Amazon earnings overnight only served to echo tariff warnings.
S&P 500 futures are now down 1% on the day after failing to hold at fresh record highs yesterday. Nasdaq futures are also seen down 1.1% with Dow futures down 0.9% currently. Over in Europe, it's a beatdown as well with both the DAX and CAC 40 lower by 1.7%. French stocks have pretty much just undid all of the gains seen in July amid the drop today.
Coming up later, we do have the US jobs report to get through before wrapping up the week. A more solid set of labour market numbers will only help to reaffirm the Fed's patient stance and that could add to more pain for equities before the weekend comes along. As things stand, Fed funds futures still point to ~39% odds of a rate cut for September. So, that's the room to play with in the event of any further market moves.
This article was written by Justin Low at investinglive.com.Hence then, the article about stocks continue to be pummeled in european morning trade was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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