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- After the lower close on Wall Street Monday (NASDAQ finished off by over 2.5%, while the Dow Jones fell just 0.1%), the tech pullback continues overhang over European markets this morning, with most indices off by 2% or more. Unsurprisingly the tech sector is the poorest performer in Europe, but all sectors are lower at the halfway point.
- Germany's DAX is underperforming, while the decline is most modest in Spain's IBEX-35, which has limited losses to 1.3%.
- In US futures space, Monday's weakness has carried through, with the NASDAQ-100 future off over 1% pre-market to hit the lowest levels since the beginning of April.