European indices are lower but not seeing as heavy losses as US futures though for now. The DAX is still up 0.1% with the Eurostoxx and CAC 40 both down by only 0.1% so far. But the UK FTSE is down 0.5% while the IBEX is down 0.3% on the day. The main drag though is in US futures, with S&P 500 futures now down 0.5%.

SPX
S&P 500 futures

There's not much news driving the drop as it appears to be selling flows coming in as European traders enter the fray. Nasdaq futures are also marked down by 0.6% while Dow futures are lower by 0.4% currently. So, the selling isn't just solely tech-related.

If anything, this could relate to some month-end rebalancing flows. Bonds are keeping slightly bid still, with 10-year Treasury yields down 2.4 bps to 4.291% on the day.

As equities stumble, the dollar is still finding itself more bid so far on the session. EUR/USD is now down 0.4% to 1.0798 while GBP/USD is down 0.5% to 1.2625 currently.