NY Open: Who let the bears out?
There's a storm blowing down Wall Street as yesterday's tech rout gathers pace and blasts leading indices lower still, while in FX, a resurgent greenback picks off the G10 majors.
Head of Commodity Strategy, Saxo Bank Group
Financial markets are growing increasingly nervous ahead of Thursday, when President Trump is expected to slap another round of punitive tariffs on Chinese imports. The dollar is seeing some broad-based gains while stocks are trading lower.
The reaction in commodities has been broadly negative with crude oil and products being the noticeable exception as momentum buyers respond to Iran supply risks and Tropical Storm Gordon currently moving through the Gulf of Mexico.