Well, at least for the time being
Risk trades are able to breathe in a sigh of relief as we get towards European trading, with Chinese equities recovering losses further towards the tail-end of the session.
Of note, the Shanghai Composite has turned positive as it erases the sharp losses at the start of the day to be up by 0.2% currently:
The improvement in the overall mood is helping to bolster US futures as they are seen up roughly around 0.3% to 0.4% on the day.
That said, we've seen how shaky and nervous Wall Street can be despite the presence of dip buyers and today might not be all too different with the Fed in view too.