Global markets: Asian markets slip; US futures dip after Moody's downgrade, Europe trades flat
Global markets opened on a cautious note as Asian equities traded in the red, reacting to Moody's downgrade of the U.S. investment grade rating, which has sparked fresh concerns around economic growth and rising debt levels. Meanwhile, European futures are holding steady in a narrow range.
In the U.S. futures market, all major indices are in the red: Dow Futures : 42,400 (▼254 pts / -0.60%)
Nasdaq Futures : 21,201 (▼224 pts / -1.05%)
US Small Cap 2000 Futures: 2,096 (▼18 pts / -0.84%)
European markets are trading mixed: DAX Futures (Germany) : 23,820 (▲4 pts / +0.02%)
FTSE Futures (UK): 8,687 (▼10 pts / -0.11%)
Asian markets are broadly lower: Hang Seng Futures : 23,012 (▼253 pts / -1.03%)
Taiex Futures (Taiwan) : 21,653 (▼176 pts / -0.80%)
KOSPI (South Korea) : 2,598 (▼29 pts / -1.11%)
Nikkei (Japan) : 37,609 (▼144 pts / -0.38%)
Gift Nifty (India): 25,061 (▼18 pts / -0.07%, adjusted)
The cautious sentiment follows a positive close on Wall Street yesterday, where the Dow Jones gained 332 points (+0.78%) and the Nasdaq rose 99 points (+0.52%), although futures suggest those gains may be pared back in today's session.
Markets are likely to remain volatile as investors digest the implications of the U.S. credit rating move and await further macroeconomic cues.
News desk at BusinessUpturn.com
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