S&P 500 futures turn negative as Asian markets drop

Asian equities drop after 1000 point slide in Dow.
S&P 500 futures turn negative on a negative feedback loop.

Omkar Godbole FXStreet Contributor

The S&P 500 futures have erased marginal gains, tracking the drop in the Asian equities.

Having clocked a high of $2610 earlier today, the S&P 500 futures are now trading flat to negative around 2590.

The decline from the session high could be associated with the decline in the Asian indices. The Shanghai Composite index has dropped 3.7 percent and Japan's Nikkei is reporting 3.3 percent decline. Meanwhile, shares in Australia are down 1.3 percent.

It is worth noting that Asian equities have come under renewed selling pressure, largely due to the 1000 point drop in the Dow. Further, the drop in the Asian markets is feeding more negativity into US index futures, indicates the drop in the S&P 500 futures from 2610 to 2590. The negative feedback loop could keep the anti-risk currencies well bid.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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