S&P 500 futures are now down 24 points, or 0.5%, as the selling is picking up in European morning trade.
The new week is finally looking to get underway and after a solid rebound to close off the month of June, stocks are beginning to stutter now. In Europe, the selling is still rather controlled with the DAX and CAC 40 being down 0.6% and 0.7% respectively – somewhat similar to the opening losses here.
But if Wall Street comes is going to stick with a more dour mood later, expect the selling to intensify and we could get a more risk-off session in US trading. Nasdaq futures are down 0.6% and Dow futures down 0.4% currently.
So far, the softer mood isn’t spilling over to FX just yet with the dollar trading more mixed across the board with mostly narrow ranges still prevailing.