Good morning. A risk-off mood continues to hang over the markets as U.S. futures—particularly, tech futures—lose ground, following European stocks lower.
Let’s check in on the action.
- The major Asia indexes are clinging to gains in afternoon trading, with Japan’s Nikkei up 0.8%.
- Japanese shares are higher despite news that Japan’s Q2 GDP collapse was actually worse than first thought. It shrank 7.9% in a revised reading.
- President Trump vowed on Monday to cut more economic ties with China, suggesting in a speech yesterday that “Made in America” tax credits and tariffs on U.S. companies that move operations to China (or elsewhere overseas) would be part of his second-term agenda.