Nasdaq futures sink 2% as European shares rise

Nasdaq futures sink 2% as European shares rise

Admin 21 mins ago Stocks



Bloomberg

The Nasdaq 100 Index extend losses, with futures falling as much as 2% in early European trading. Oil climbed after Saudi Arabia said the world's largest crude terminal was attacked. Rising bond yields continue to dominate investor attention and fan concerns about lofty tech valuations. The global picture in equities was mixed on Monday, with losses in S&P 500 futures and Asian stocks, while European shares advanced. Brent crude topped $70 a barrel. Saudi Arabia said a storage tank at Ras Tanura in the country's Gulf coast was targeted on Sunday by a drone from the sea. The attack was intercepted and oil output appeared to be unaffected. "You will see a lot of volatility in markets,“ Kim Stafford, Asia Pacific head at Pacific Investment Management Co., said on Bloomberg Television. "We believe that confidence is improving, especially with vaccines coming online, so we will see an uptick in growth globally. There are a lot of reasons to be confident in the market but a lot of this is also priced in.“ Futures on the S&P 500 Index declined 0.8% as of 8:23 am London time and the Stoxx Europe 600 Index increased 0.6%.