Fast Europe Open: Global sell-off continues

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It hasn’t been the prettiest of days in market over in Asia, thanks to Wall Street on Tuesday staging its biggest one-day drop in a little more than five months. Over to you, Europe.

Investors on the Continent (and the UK) are not inheriting the greatest of leads from the East, where Japan’s Topix and Australia’s S&P/ASX 200 had their biggest one-day falls since the US presidential election in November.

This followed Wall Street’s drop on Tuesday, where the S&P 500 closed 1.2 per cent lower in its biggest one-day fall since October 11, or the first fall of more than 1 per cent in 109 sessions.

Banks were hit hard in the US and that sentiment spilled over into Asia today. So look, out Europe.

Futures tip the S&P 500 to open 0.4 per cent lower today, and the FTSE 100 is expected to shed 0.8 per cent. In Asia, Japan’s Topix dropped 2.1 per cent, Australia’s S&P/ASX 200 closed 1.6 per cent lower and Hong Kong’s Hang Seng was down 1.4 per cent in late trade.

Companies reporting this morning include: Kingfisher, Ferrexpo, Savills and Softcat. Here is today’s economic calendar.

  • 08.00: UK secretary for international trade Liam Fox speaking
  • 09.00: Eurozone current account
  • 10.30: Barnier briefing Commission on Brexit
  • 11.30: ECB’s Lautenschlager speaks
  • 12.00: UK prime minister’s questions
  • 12.30: EC president Jean-Claude Juncker speaks
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