Japanese stocks held up despite a slump elsewhere around Asia
The drop today is mainly led by tech-related firms – namely Apple suppliers – after the US company’s own slump in overnight trading. Losses are seen more evident in Chinese markets with the Hang Seng index lower by 0.6% while the Shanghai Composite is down by 0.3% in trading currently.
The more cautious market sentiment continues to prevail and should extend towards European equities as well later on. US futures are down by 0.3% as we begin the session.
All eyes remain on Fed chair Powell’s testimony tomorrow, so that will keep markets on edge until we hear from the man himself.