US and European Markets Weaken Amid Geopolitical Uncertainty
Deutsche Bank strategists said US equities extended losses as geopolitical uncertainty and higher US real yields pressured risk assets. The S&P 500 fell 0.19% for a third consecutive session, with two thirds of constituents lower, while the broader tech tone stayed subdued: the NASDAQ slipped 0.05% and the Mag-7 eased 0.07%. Chipmakers were steadier, as the Philly semiconductor index rose 0.60% after a 9.97% slump last week, leaving it no longer more than 20% below its record high versus Friday. European markets also weakened, with the STOXX 600 down 0.30% and the FTSE 100 falling 0.71%.
Asian Markets Rebound Following Recent Declines
In Asia, futures pointed to a rebound, with S&P futures up 0.42% and Nasdaq futures higher by 1.03%. South Korea’s KOSPI surged 4.63% after falling nearly 5% the previous day, while Japan’s Nikkei gained 2.76% after a holiday. China’s CSI 300 rose 1.76% and the Shanghai Composite added 0.62%, as Hong Kong’s Hang Seng was up 0.03% and Australia’s S&P/ASX 200 edged 0.08% higher.
