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DAX drops below 18,500 as European markets and US tech stocks diverge

Well, as expected it has not been a great start to the day for the European stock markets. Even the FTSE 100 is tracking lower now and the CAC 40 has continued to drift lower. The DAX has now fallen back further and just now dropped below the 18,500 handle. Meantime, the Nasdaq 100 futures are still pricing a reopening above 19,600. So, we have clear divergence again between Europe and US tech. That is also clear from the price action right now in the Dow Jones futures, which are currently pricing a reopening closer to the 38,600 mark. The DAX is just now trading at 18,490

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