- Global equities are in the red, with Japanese shares leading Asia lower after the yen strengthened against the dollar following a bad miss for U.S. employment data yesterday, which has prompted investors to rule out Fed tapering this year.
- Chinese stocks dropped 1.25% on concerns about central-bank tightening, debt write-offs at banks, and fears that small-caps are overvalued.
- European shares are suffering as banks fall following news that the ECB will carry out year-long stress tests, while markets are also taking in earnings reports.
- Japan -2%, Hong Kong -1.5%, India -0.7%.
- EU Stoxx 50 -0.7%, London -0.4%, Paris -0.7%, Frankfurt -0.5%, Milan -1.2%, Madrid -1.6%.
- U.S. Stock futures: Dow -0.4%. S&P -0.5%. Nasdaq -0.5%
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