Europe & US futures are extending their losses.
Asia tracking lower as Japan GDP data disappoints and US/China tech tensions ratchet up - heading for their first weekly loss in 3.
Nikkei and Topix both down sharply and will end lower for the week. NKY testing back the 50dma.
US/China tensions- US gov’t has begun an official probe into an advanced made-in-China chip housed within Huawei latest smartphone.
HK closed on an adverse weather warning, heaviest rainstorm to hit the city since records began in 1884.
Offshore yuan hit 7.36 beyond psychologically 7.35 level and close to weakest since inception of offshore market in 2010.
Taipei also lower as AAPL/China headlines still reverberating w/ TSMC the biggest drags.
EU continue to digest fallout from reports China widening its iPhone ban - poised to drop for the first week in 3.
Macro land quiet- German final CPI unch from flash. French industrial production due.
EU Cyclicals down 65bps so far, 3rd d in a row while Quality and high divi basket being bought +25bps.
Media trading in green while all others sector in the red. Mat & Chemicals lagging the most.
L.uxury weighted by China w/China expo basket -75bps. Semis down again IFX -70bps, ASML -150bps, STMPA -20bps.
DXY flat-to-down small. Brent -20bp. US nat gas +110bp and +540bp in the EU. Bitcoin +55bp while gold +30bp to $1.925K.
US futures lower w/ESU3 -11.00, HIWU3 -72.00, RTYU3 -2.80 and NQU3 -41.25.