FAST FIVE: Futures Slide As Asian Stocks Plunge To 2021 Lows
US-listed Chinese stocks extended their declines as fears over more regulations in the mainland persisted.
Alibaba and Baidu lost about 3.6% and 4.9%, respectively (more below). Here are some of the biggest US movers today: Chinese large cap stocks listed in the US fall in premarket trading amid a deepening rout trigged by Beijing's regulatory crackdown.
Here are some of the biggest European movers today: LVMH shares gain as much as 1.8% after the company's 1H results beat analyst expectations, with luxury valuations hovering at near-record levels.
Dassault Systemes shares rise as much as 4.8% to a record high after results, with Citi saying the software firm saw another “solid” execution performance against high expectations.
That being said, the overarching force remains the supply/demand balance – with the supply side unlikely to see many updates until at least early-to-mid August, whilst demand tracks COVID and vaccine developments.