Stock futures slip on global instability, many overseas markets swoon

Stock futures edge lower after yesterday's big drop that sent the S&P below 1850 and triggered losses for Asian and European markets; Dow -0.2%, S&P and Nasdaq -0.1%.

Investors are likely to remain cautious ahead of Ukraine’s weekend referendum in Crimea and from stresses over China’s growth.

Overseas, the Nikkei -3.3% to a one-month low as the strong yen weighed, the Hang Seng -1% for its fifth loss in six sessions, and major European indexes trade lower across the board.

Chart watchers see yesterday's sub-1850 close on the S&P 500 as a big hit to the bull case; the longer-term trend is still up, but the selloff could lead to a "change in market character" that puts short-term traders on the defensive.

Treasurys are off their highs but remain strong; the yield on the benchmark 10-year note is 2.7 bps lower at 2.626%.

Still ahead: preliminary Reuters/UofM consumer sentiment.

Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs