Free Trial

Indices Slip, Tech Underperforms

EQUITIES

Stocks slipped throughout the Thursday session both on the continent and stateside, with tech names underperforming and leading the NASDAQ to slip further relative to the S&P500.

Selling pressure was orderly and gradual, with no protracted weakness, but a decent ~80 point gap has now opened with the all time highs posted earlier in the week in the e-mini S&P.

The energy sector traded poorly as the fierce rally in WTI and Brent slowed, pressing oil services firms to trade with losses of as much as 5%.

In Europe, UK's FTSE-100 edged lower by 1.4%, with GBP strength a major factor. Germany's DAX was spared from the bulk of the losses and traded lower by 0.2% at the close.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.