A modest bounce in equities after the sharp drop earlier
The DAX is now trimming losses to just under 1% and European indices are also calming down a little following the plunge earlier to start the session.
At the same time, US futures are also trimming earlier declines on the day as well. S&P 500 futures are down 0.3%, Nasdaq futures down 0.9%, and Dow futures are flat.
For some context, S&P 500 futures were down by roughly 1% earlier at the lows.
Despite the bounce, sentiment remains fragile as European equities are still seeing red and US futures still keeping lower overall. But it does pose some questions at least.
Are we seeing early signs of dip buying ahead of US trading? Or is this where the market starts to look for a base as things calm down ahead of the weekend?
We're seeing the dollar trim gains across the board now, with EUR/USD climbing from 1.2090 levels to 1.2115 currently. Elsewhere, AUD/USD has bounced from 0.7600 to 0.7620 and NZD/USD likewise from 0.7110 to 0.7135 at the moment.
