Meanwhile, China’s CSI 300 index is also down 1% on the day currently. This comes as we are seeing some notable downside pressure on US futures as well with tech stocks once again bearing the brunt. Nasdaq futures are down 1% and that follows the drop yesterday, which saw the cash index close below both its 100 and 200-day moving averages for the first time since the March/April 2020 drop i.e. start of the pandemic.
That is something to be mindful about as it could lead to broader risk aversion tones if the selloff intensifies.
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