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Stocks Softer as Europe Follows Wall Street's Lead

EQUITIES

An acute sell-off in US stock markets after the London close Thursday has set the course for European indices this morning. Continental markets are uniformly lower, with cash markets off around 0.4-0.5% apiece. Energy names are leading losses, with materials and tech firms not far behind.

  • Defensive healthcare and staples firms are close to the top of the pile, echoing the risk-off tone so far Friday.
  • The e-mini S&P bottomed out at 3801.50 in Asia-Pac trade, and sits within range of that mark ahead of the NY crossover. NASDAQ futures remain heavy as tech stocks lead the recent sell-off - the NASDAQ 100 futures now look comfortable below the 50-dma at 13,129.
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