European Markets Continue Heading Lower, US Stabilizing, India Getting Destroyed

Matthew Boesler

European stock markets continue trading lower Friday while futures in the U.S. have stabilized somewhat for now.

The German DAX is leading the way lower, down 0.3% in early trading.

The London FTSE is down 0.2%, the French CAC 40 is down 0.1%, and the Spanish IBEX 35 is flat. The Italian FTSE MIB is the lone bright spot this morning, up 0.2%.

In the United States, S&P 500 futures are also up 0.2%. The index has closed lower in seven of the last nine trading sessions.

Overnight, markets in Asia fell again in the absence of any notable economic data releases, following a big down day in the U.S. Thursday.

The Japanese Nikkei 225 shed another 0.8%, while the Hong Kong Hang Seng fell 0.1% and the Shanghai Composite finished 0.6% lower.

Meanwhile, India's Sensex is down 4.2% as the rupee continues its freefall against the dollar.

The only notable economic data releases Friday are July housing starts and building permits data in the United States, due out at 8:30 AM ET, and the preliminary results from the University of Michigan's August consumer confidence survey, out at 9:55.

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