European equities open lower to start the day

  • Softer tones with month-end, quarter-end in focus
  • Eurostoxx -1.2%
  • Germany DAX -1.7%
  • France CAC 40 -1.7%
  • UK FTSE -1.5%
  • Spain IBEX -1.2%

The heavy drop came as US futures also fell earlier, with S&P 500 futures now down 1.3% on the day. Equities are very much undoing the good work from last week and that's a reminder that the outlook is still extremely challenging for the time being.

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