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US indices finished yesterday's trading with a big drop. S&P 500 dropped 2.38%, Dow Jones moved 1.94% lower while Nasdaq slumped 2.75%. Russell 2000 dropped 2.12%
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Indices from Asia-Pacific follow the US lead and also trade lower. Nikkei drops 1.3%, S&P/ASX 200 trades 1.0% lower and Kospi declined 1.1%. Equities in China traded higher
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DAX futures point to a lower opening of the European cash session
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Deterioration in risk moods is reasoned with the pandemic situation in China, where lockdown started to be reimposed in Shanghai and mass testing will be conducted
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Oil continues a pullback started yesterday. Brent and WTI trade around 0.3% lower on the day and around $1 above session lows
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Chinese CPI inflation remained unchanged at 2.1% YoY in May (exp. 2.2% YoY). PPI inflation decelerated from 8.0% to 6.4% YoY (exp. 6.5% YoY)
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Small gains can be spotted on the cryptocurrency market today. Ethereum trades 0.2% lower and slightly below $1,800. Bitcoin trades flat in the $30,000 area
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Precious metals are trading a touch lower with palladium being exception (+0.8%)
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NZD and JPY are the best performing major currencies while USD and CAD lag the most
Nasdaq-100 (US100) failed to break above the resistance zone marked with 23.6% retracement (12,900 pts area) and launched a pull back, which accelerated yesterday. A move back towards recent lows below 12,000 pts cannot be ruled out. Source: xStation5
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