That is putting further pressure on equities across the board, with European indices now bordering on 1% declines. Meanwhile, S&P 500 futures are down 0.9% and Dow futures down 0.6%. I warned about this quite a few times already earlier in the session, the latest:
"Just be wary in case losses accelerate as that could spark some added risk aversion in the market. In turn, that could also help to put a wet blanket on the potential breakout in oil prices today."
On the oil front, we're also seeing prices slip back a little with WTI crude falling from $85.70 to $85.03 currently.
