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Tech Sector Leads Europe, US Futures Lower

  • Stocks across Europe are retracing, with the EuroStoxx50 off around 1.5% at pixel time, matched by the downtick in French, and German indices. The UK's FTSE-100 is also lower, but the dip is far less pronounced thanks to strength in the likes of BP and Royal Dutch Shell.
  • In US futures space, the NASDAQ is leading the decline, indicating a lower open to the tune of 1.5%. The e-mini S&P is also lower and has dipped below 4400. Nonetheless the index remains well above last week's lows of 4293.75.
  • Tech weakness is also evident across Europe, with the sector comfortably the poorest performer on the continent. Losses are lead by semi-conductor names and chipmakers, indicating a tough session for the US equivalents later today.
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