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The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Extending the selling pressure on tech stocks, Nasdaq futures point to a lower open for the index today, according to reports. Oil prices are also trending lower in early trading, reflecting a decline in risk appetite.
The decline comes amid renewed concerns over slowing global economic growth. Recent data showed Canada's inflation rate rising to 3.2% in May, above forecasts, per market data. Meanwhile, European PMI readings fell below 50, indicating contraction in both services and manufacturing activity.
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Sign InTraders are focused on broad market moves in the absence of fresh catalysts. With continued pressure on equities and oil, the session could see further volatility as investors await upcoming economic data and central bank speeches in the days ahead.