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European equities pressured lower in the opening hour

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Risk sentiment stays pressured to start the session

European equities are bleeding by over 1% now, with Italy’s FTSE MIB leading losses being down by 2% among the major indices.

US futures are also keeping more subdued as risk is pressured lower to start the day.

S&P 500 futures are down 0.4%, Nasdaq futures down 0.2%, Dow futures down 0.6%.

All the talk is pointing to “renewed virus concerns” and while that may be valid, I reckon we are seeing some exhaustion after the highs in the past two weeks with not much other reasons to work with for buyers for the time being.

Not to mention that with rampant inflation and supply chain disruptions still ongoing, that could temper with the pace of the recovery if it gets out of hand.

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