Free Trial

Leaking Lower

EQUITIES

It would seem that weakness in the likes of the KOSPI (-1.0%) and the Nikkei 225 (-1.8%) has allowed e-minis to move through their respective Monday bases. With nothing in the way of fresh headline catalysts apparent we would suggest that Monday’s wider moves are feeding through into early Asia-Pac trade. A reminder that Monday’s weakness was seemingly driven by China worry (COVID and the latest round of fines for big tech), Tesla CEO Musk’s cold feet when it comes to his proposed Twitter takeover (which was crystalised late on Friday) & the European gas supply saga. The weakness in e-minis has accelerated on a break through Monday’s lows, with the S&P 500 contact last -0.5%, the NASDAQ 100 -0.6% and the DJIA -0.4%.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@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.