Futures are under pressure this morning as global markets fall 1-2%. EuoStoxx50 drops 1.6%, FTSE down 0.75%, CAC40 hit for 1.5%, Deutche Bourse off 1.6%. In Asia, stocks are mixed, with some marginal green on the screen.
The real pressure is in the Middle East, where Dubai is getting slammed and other bourse are down 2% plus.
The S&P 500 has just regained its 50 day moving average, and despite a slew of negative headlines, US markets have been surprisingly resilient.
Watch to see if we have some sort of intraday recovery, or if things accelerate to the downside from here.
Back later . . .
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