European markets closed lower on Monday despite the firm open; the FTSE 100 ending –0.55 per cent at 5,886 and the DAX off –0.41 per cent at 12,855. The Euro Stoxx 50 declined 0.12 per cent to 3,241. All are treading their well-worn ranges. Wall Street had something of a drubbing after opening higher with a broad-based selloff leaving the S&P 500 and Nasdaq –1.6 per cent lower and close to the lows of the day at the close. The S&P 500 sits comfortably above the 50-day SMA at 3,400 but another down day could test this. Futures point mildly higher this morning.
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