Not a good look as we approach midday in London
The early morning in Europe saw slightly more positive tones, with futures trading up by around 0.4% before that all disappeared and the softer risk mood is deepening as we start to approach North American trading in a few hours from now.
S&P 500 futures are now down by around 0.7% as we also see European equities erase gains during the session to stay in negative territory currently.
The DAX is down by 0.6% with the CAC 40 index down by over 1% even so far.
There's a couple of mixed developments in the market since the weekend, as we saw UK and NZ announce easing of lockdown restrictions. Meanwhile, South Korea is delaying the reopening of schools amid a new cluster of cases popping up over the past week.
Then, you have US-China tensions continuing to build with headlines like this and this.
Or you could argue that there's some technical element to it as we see US stocks are tepid amid nearing a retest of a key level on the charts:
In any case, softer risk tones are the name of the game for now so let's see if there will be any more headlines later in the day to change/exacerbate the undertone. But just be mindful, this skittish look in the market will make it tough to navigate.
