As Risk Remains on the Defensive, US Futures Drip Lower
This comes as technology continues to lead the downturn, with Nasdaq futures presently down 1.2% and Dow futures down 0.6%. The dip is also weighing on European markets, with the DAX and CAC 40 both down 0.6% on the day.
There isn't much in European morning trade to blame for the drop, but it comes after Microsoft's declining sales prediction earlier in the day, as well as higher CPI data from Australia and New Zealand - which may make markets more suspicious of the peak inflation thesis.
The dollar is somewhat stronger presently, with the AUD/USD trading at 0.7080, down from 0.7110 earlier. GBP/USD is also down 0.3% at 1.2285, hovering near the day's lows.
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