Risk back on the defensive again as the market continues to wait on Powell

European equities fall alongside US futures

The Eurostoxx is down 1% with the DAX down 0.7% on the day currently, extending declines from opening levels earlier as risk sentiment keeps more fragile for now.

Meanwhile, after having pared losses briefly, US futures are back in the red with S&P 500 futures now seen down 0.6% and Nasdaq futures down 0.7% on the day.

All eyes are still on Fed chair Powell's speech to see how the tail-end of the day shapes up but the air of uncertainty surely isn't helping the mood at the moment.