Stocks are starting to run into trouble on the day now. S&P 500 futures are down 0.4% with tech shares leading the declines as Nasdaq futures are down 0.6%. In Europe, the more sluggish week is also starting to turn bad with both the DAX and CAC 40 indices down 0.6% currently.
There's no fresh catalysts for the move we're seeing but just be wary that month-end rebalancing flows might be a factor in the equation. For Wall Street, the S&P 500 closed at fresh record highs yesterday and is up 2.6% on the month. Meanwhile, the Nasdaq is up 2.8% on the month coming into today. In Europe, the shut out today sees the DAX join the CAC 40 in turning negative on the month this week but it's still a solid month for Spain and Italy's benchmark indices.
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