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Nasdaq 100 futures turn red as DAX gives it all back and more

Well, so much for the positive start to the New Year for the DAX. I did say earlier today; that this was far from certain to be maintained and indeed it has not, but more on that in a minute. Meantime, the US equity futures have all turned red and it is the tech sector and the Nasdaq 100 futures that are right now leading those losses. The index is currently priced to open below 16,700, where it was pricing that at around 16,850 earlier this morning. The move lower across all the US futures appears to have a risk negative tone to it right now. I think the catalyst for this is as it was when mentioned here earlier and that is a risk of a US/Iran confrontation in the Red Sea. Turning back to the DAX now; that is in the red and has just dropped below 16,700, which is a far cry from levels above 16,950 after the opening this morning. The Nasdaq 100 futures are just now pricing the opening at around 16,670

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