Softer tones observed in early trades
- German DAX futures -1.1%
- UK FTSE futures -1.0%
- Spanish IBEX futures -1.2%
European indices 'missed out' on the decline by US equities, as they closed higher in trading yesterday. But the drop going into the start of the session today is ominous, as it could see the Eurostoxx and Stoxx 600 indices hit their lowest levels since 15 June.
The DAX is still somewhat holding up but is moving closer to key support from its 100-day moving average and angling towards the 30 July low:
