European equities open lower to start the day

Risk stays on the defensive as the session gets going

• Eurostoxx -1.1%
• Germany DAX -1.2%
• France CAC 40 -1.3%
• UK FTSE -1.2%
• Spain IBEX -1.4%

This follows the decline from Wall Street in trading yesterday, with US futures also seen down by ~0.5% currently. Asian equities also traded much softer during the day.

The market isn't taking too kindly on the Fed minutes yesterday, after it highlighted increasing uncertainty surrounding the economic outlook and policy path in general.

To be fair, it didn't tell us much of anything new but it is a timely reminder especially with US equities having hit all-time highs on Tuesday; and just adds to the more tricky trading period over the last few weeks in this August month so far.