European stock-index futures signaled sharp losses for the region’s equity markets in a global selloff that has seen the Dow Jones Industrial Average suffering its worst point-plunge ever.
Contracts on the Euro Stoxx 50 Index, Germany’s DAX Index and France’s CAC 40 Index fell more than 3 percent as of 7:39 a.m. in London, while the U.K.’s FTSE 100 Index lost 2.8 percent. After a strong start of 2018, most European stock benchmarks have wiped out gains for the year in a rout that looks set to extend into a seventh day for the broader regional benchmark, hurt by worries over rising government bond yields and the outlook for the Federal Reserve’s interest rates.
“Market tops have probably been set for a pretty long time now on many equity indexes,” Stephane Barbier de la Serre, strategist at Makor Capital Markets, said by phone.
To contact the reporter on this story: Blaise Robinson in Paris at brobinson58@bloomberg.net.
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