It’s starting to look a little rough out there again now. S&P 500 futures have dipped lower to be down 0.7% on the day with tech shares leading the declines once more. Nasdaq futures are down 1.2% with Nvidia marked lower by over 2% in pre-market trading.
That being said, broader market sentiment remains less dicey as it was yesterday. Gold is down once again as it is caught in a downdraft amid the selloff, lower by nearly 1% now to $4,132. However, bonds are not seeing much bids with 10-year yields in the US holding up at around 4.13% still.
Meanwhile, the dollar is also trading just a bit more mixed but nothing that really stands out with major currencies also looking relatively sanguine. If anything, it is EUR/CHF that is the one intriguing so far today as it threatens a break under 0.9200. GBP/USD remains lower by 0.4% to 1.3130 as traders are still digesting fiscal concerns and political uncertainty in the UK.
Circling back to the risk mood, it is looking like stocks could be facing against a shift in the market landscape – even if just for a bit and a while. The Nasdaq now looks poised for back-to-back weekly losses for the first time since March.
