Free Trial

No Bounce for Tech, With NASDAQ Seen Gapping Lower at Open

EQUITIES
  • Equities are lower across Europe this morning, with the EuroStoxx50 off 1.2% at pixel time, extending the losses first seen on Wall Street yesterday that carried through Asia-Pac hours. Japan's Nikkei 225 finished with losses of over 2%, with the outsized tech and growth sectors undermining the headline index. The Nikkei 225's decline has prompted the index to reverse the 2022 gains, and slip through all three major moving averages.
  • Across futures, the NASDAQ future has shown no signs of bouncing, and is indicating a drop of 0.4% at the open. The rally in US yields across the curve has persisted throughout European hours, trimming the attractiveness of growth-led tech stocks. Nonetheless, weakness is also seen across the Dow Transportation Index as well as real estate, underpinning the risk-off theme.
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.