The FTSE 100 has started the week off poorly, failing to build on an early rally, while in the US most indices are weaker, though tech has seen further strength, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.

Markets in search of a catalyst

“European markets have risen off the lows of last week but there’s little enthusiasm among investors for the region given the prevailing political uncertainty. Dip buyers, particularly in French stocks, may well opt to wait until after the election. While the UK is free of such uncertainty, for now it has been lumped into the same pile, an early rally for the FTSE 100 rapidly fizzling out this morning.”

Tech up, but everything else falters on Wall Street

“It’s not likely that the Nasdaq 100 can go up indefinitely while other indices slip back, but traders continue to chase momentum in the likes of Nvidia. Small caps continue to be the worst affected in the US, with the Russell 2000 hitting an new six-week low today.”

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