S&P 500 E-Mini Futures Market News and Commentary
Morning MarketsDec S&P 500 futures this morning are sharply lower by -1.79% at a 1-month low. Concern about contagion from the debt crisis at developer China Evergrande Group is hammering global stock indexes today. Also, uncertainty about the U.S. debt ceiling situation is prompting long liquidation in stocks after Treasury Secretary Yellen said the U.S. government would run out of money to pay its bills sometime in October without action on the debt ceiling. Ms. Yellen warned of “economic catastrophe” unless lawmakers take the necessary steps.
Global stocks are sharply lower. The Euro Stoxx 50 index today is down -2.77% at a 2-month low. Concern about contagion from China’s real estate sector is prompting risk aversion and long liquidation in stocks. Also, European mining stocks are taking a hit as base metal prices tumble, with iron ore near a 13-month low and copper falling to a 4-week low. Soaring German producer prices are another negative for stocks a... Read more