August 05, 2024 at 11:59AM
Here’s a snapshot of things:
S&P 500 futures -3.0%
Nasdaq futures -4.6%
Dow futures -2.1%
Russell 2000 futures -5.3%
At one point, Nasdaq futures were down over 6% so the rout in tech shares is at least not getting much worse for now. It’s a full-fledged flight to safety mode with traders chasing the usual safe havens. Bonds are bid and so is the Japanese yen and Swiss franc. Besides that, it’s pretty much a sell everything else case in broader markets to start the week.
From earlier:
Japan’s Nikkei closes down by a whopping 12% to its lowest since November last year
Volatility is back with a bang
From soft landing to crash landing
Poll: Is the Fed behind the curve on cutting interest rates?
A reminder of the one thing that traders have been getting wrong since last year
This article was written by Justin Low at www.forexlive.com.