The following is an excerpt from Samuel Potter | April 2, 2018 | Bloomberg.com |
The technology-led tumult that sent U.S. stocks into a tailspin showed signs of easing on Tuesday, with futures contracts for the main American gauges rising after Asia’s benchmark pared most of its decline. European shares fell, but losses were relatively contained.
The Nasdaq 100, S&P 500 and Dow were all poised to open in the green following Monday’s selloff, while Treasuries fell with the dollar. The Stoxx Europe 600 Index headed for its first decline in four days as markets reopened after the long weekend, though the drop was less than a quarter of the S&P 500’s retreat a day earlier. The weakest euro-area manufacturing figures for eight months added to the sense of caution and the euro pared its advance.
After the worst three months for global stocks in more than two years, the second quarter has started on the back foot as trade tensions festered and technology shares got slammed. The risk-off mood comes as investors prepare for earnings season. They still anticipate a strong showing, but will be watchful for any more signs of a slowdown in the synchronized global expansion.
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