An employee passes share price information displayed on an electronic board inside the London Stock Exchange Group’s offices in London, the UK. Picture: BLOOMBERG VIA GETTY IMAGES/LUKE MACGREGOR
Though these drivers persisted on Tuesday, markets saw a slight recovery, which US stock futures suggested would continue through to Wall Street’s open. S&P 500 futures were up about 1% while Nasdaq futures rose 1.5%. Peter McCallum, interest rates strategist at Mizuho, said the bounce was a natural correction after the previous session’s falls. Traders could also be positioning themselves to take advantage of any boost to sentiment coming from Wednesday’s key US consumer price index data, he said.
China’s export growth slowed to its weakest in almost two years, data showed, as the central bank pledged to step up support for the slowing economy. EU members could reach a deal this week on the EU Commission’s proposal to ban all oil imports from Russia, France’s European affairs minister said.