Morning Bid: Stock rout spreads beyond tech
The global equity sell-off looks set to extend into Europe on Thursday although the region may be spared the carnage in parts of Asia, where) have not supported the market's sky-high tech valuations, sending not just mega-cap stocks but all of Wall Street sliding back to earth from near-record peaks.
The yen has regained its safe-haven appeal right when traders were bailing out of short yen positions, amid a barrage of suspected currency interventions by Tokyo and before crucial policy decisions by the Bank of Japan and Federal Reserve, both on July 31. The more muted performance of European stocks relative to Wall Street and Japan over the past couple months means there's less froth to come off the top, potentially leading to a shallower sell-off.
Clues to the overall business environment around Europe will also be offered in surveys from France, Germany and the UK.-France business climate , Germany Ifo business climate , UK CBI business optimism Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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