Deutsche Bank strategists report a broad-based decline in US equities, with the S&P 500 falling by 0.58% and more than 70% of its constituents closing lower on the day [1]. Despite the widespread losses, technology stocks demonstrated relative resilience, particularly chipmakers, which helped limit declines in the Nasdaq (-0.32%) and the Mag-7 (-0.35%) indices. The Philly semiconductor index rose by 1.30%, marking its fourth consecutive session of gains [1].
European markets were largely subdued, with the STOXX 600 slipping by 0.05%. The FTSE 100 and FTSEMIB both posted modest declines of 0.10%, while the CAC 40 managed a slight gain of 0.14%. Stoxx futures are noted to be around half a percent lower this morning, indicating a cautious outlook for European equities [1].
In Asia, the KOSPI outperformed regional peers, rising by 1.63% due to continued strength in the tech sector. Other major Asian indices, including Japan's Nikkei (+0.07%), Hong Kong's Hang Seng (+0.02%), China's CSI 300 (+0.10%), and Australia's ASX (-0.17%), struggled to gain meaningful traction [1].
Looking ahead, US equity futures point to a modestly firmer start, with S&P 500 futures up 0.09% and Nasdaq 100 futures advancing 0.22% [1].
CONCLUSION
US equities experienced a broad pullback, but losses were mitigated by strength in the technology sector, especially chipmakers. European and Asian markets showed mixed performance, with tech-driven gains in South Korea standing out. Futures suggest a slightly positive opening for US markets, indicating cautious optimism among investors.