Futures are sagging, with the Dow down 53, the Nasdaq down 26, and S&P off by 4 points following two days of selling.
Meahwhile Asia isn’t doing so hot. Via Bloomberg:
Asian stocks are poised for the longest losing streak in two years as the technology, mining, consumer and industrial sectors led declines. Japan equities fell sharply, as did Hong Kong’s Hang Seng Index. The Australian dollar and bond yields tumbled as traders dialed back expectations for higher interest rates after growth missed estimates.
The MSCI Asia Pacific Index is set to fall for eight days, making it the longest run of losses since 2015. American shares fell, with an afternoon swoon wiping out early gains for a second straight day, as investors assessed the impact of proposed tax cuts. Ten-year Treasury yields maintained a slide to 2.34 percent, while the dollar held onto gains. The pound extended declines amid stalled Brexit negotiations, and the yen jumped.
“The adjustment mode is deepening lately in the Japanese stock market,” said Shunichi Otsuka, general manager in the research department at Ichiyoshi Securities in Tokyo. “It’s difficult to buy unless U.S. equities show firmness, even as some high-tech shares are becoming cheap.”
Bitcoin, on the other hand, is gaining retarded air again – breaking through $12,000 and ripping faces off ahead of speculation that widespread use of the upcoming CBOE and CME futures will help digital currencies gain more legitimacy as an asset class.