The Fuse
What are futures doing?
Futures are taking a hit this morning as tech stocks react to comments over the weekend on ‘slowing down the pace of AI’. These fears always come back to bite when the unknown grows larger.
News
Markets were modestly lower in Europe, the STOXX down .15%, a bit more weakness in Germany and France. The FTSE was higher. The US dollar strengthened, yields are up. Gold is getting hit and now below 4,400 and silver is slumping. Crude oil is higher by 2%. German bund yields are near 3.52%, US 10 year treasuries yields slightly lower. In Asia, Japan was off 1.4% but Hong Kong slightly higher at .2%, Shanghai about flat.
Volatility
The VIX is on the move this morning as tech stocks move down sharply on some AI worries. Even with this rise the VIX is only at 17+ but is starting an uptrend. We may soon see this fear gauge in the 20’s.
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