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Tech Stocks Underperforming In Broader Risk-Off Move

EQUITIES
  • Asian markets closed mostly weaker: Japan's NIKKEI closed down 135.83 pts or -0.47% at 28794.5 and the TOPIX ended 1.93 pts lower or -0.1% at 1992.59. China's SHANGHAI closed up 19.716 pts or +0.61% at 3277.794 and the HANG SENG ended 116.05 pts lower or -0.59% at 19656.98.
  • European equities are sharply lower, with tech and consumer discretionary stocks badly underperforming (some defensives like health care are seeing more moderate drops): German Dax down 246.89 pts or -1.82% at 13847.56, FTSE 100 down 50.42 pts or -0.67% at 7521.73, CAC 40 down 116.32 pts or -1.79% at 6573.53 and Euro Stoxx 50 down 62.81 pts or -1.68% at 3795.33.
  • U.S. futures are weaker too, with the Dow Jones mini down 303 pts or -0.9% at 33402, S&P 500 mini down 48.75 pts or -1.15% at 4182.25, NASDAQ mini down 204.25 pts or -1.54% at 13062.75.

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