European equities are deep in the red, with bond yields also falling off
The DAX is now down by over 3% on the day with US futures also tumbling by more than 1% on the session now as we see the risk selloff gather traction in the European morning.
Meanwhile, UK stocks have also plunged to their lowest level in more than a year:
It has been a painful week for risk trades and it doesn't appear to be stopping just yet. Oil is down by 1.5% to $49.00 while we are seeing US 10-year yields fall towards the record low of 1.305% posted in trading yesterday:
The thing to be mindful about in the risk rout over the past few days is that when emotions take over, things can often change up quite quickly.
Whenever something in the market moves too far and too fast, there is always the scope for a pause and pullback. Considering the moves we are seeing, any such event could be even sharper so just be mindful of that even as we look towards US trading later.
