📆 Wednesday, August 2
► August continues on a shaky footing after a solid July. Global markets are reacting to Fitch Ratings' downgrade of US sovereign credit, mixed earnings reports, and various rather poor economic data. US equity futures slipped following the downgrade and selling in stocks in after-hours trading following mixed earnings. The Nasdaq 100 is trading 0.9% lower, the S&P 500 currently trading near -0.7%.
► In Europe, financial services and mining stocks led the decline. Siemens Healthineers and Hugo Boss stocks fell despite the latter raising its 2023 guidance after better-than-expected Q2 results.
► Asian stocks, especially technology stocks, faced significant losses. In Japan, the stock market saw its most significant decline this year as JPY's gains overshadowed corporate profits. However, Bank of Japan reassured the continuity of monetary easing policy despite minor policy adjustments.
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