European equity futures are lower in early trades
- German DAX futures -1.2%
- UK FTSE futures -0.8%
- French CAC 40 -1.4%
- Spanish IBEX -1.1%
Temporary exemptions given to the EU not really alleviating the pain that is set to strike European equities when the cash equity market opens later it seems.
Meanwhile, China’s Shanghai Composite and CSI 300 indices fell by 3.4% and 2.9% respectively on the day – paring some losses towards the end as the yuan strengthened as well, a possible PBOC intervention there.