7:30 a.m. And the final shoe drops.
Yesterday, the Dow Jones Industrial Average finished higher even as the S&P 500 and the Nasdaq Composite finished down on the day. Its strength is a thing of the past this morning. S&P 500 futures have declined 0.4%, while Dow futures have fallen 118 points, or 0.5%. Nasdaq futures have dropped 0.8%.
The market is being weighed down by both company specific news–Apple (AAPL) has dropped 1.2% to $191.20 on reports that its told its suppliers to expect fewer orders–as well as macro news, including tensions as the G7 summit begins and sliding emerging-market currencies. “Emerging market FX is again driving sentiment, and another day of weakness is contributing to broader risk off as the US session begins,” writes NatWest Markets strategist Brian Daingerfield.
