Stocks are heading lower this morning after European economic reports came in weaker than expected.
S&P 500 futures are down by about 0.25 percent, compared with losses of about 1 percent in Paris and Frankfurt, while Spain is down almost 2 percent Atlantic. Asian shares inched higher overnight, though China and Taiwan remain closed for the Lunar New Year.
Reports from Germany, France, Italy, and the broader Eurozone showed gross domestic products contracting more than expected in the fourth quarter. That is pouring cold water on a region that has led global markets higher since the autumn.
The news comes with the S&P 500 sitting at a level where it peaked in December 2007 before crashing the following year. Yields on 10- and 30-year Treasuries have also returned to areas where they peaked in the previous year, which could make some traders expect a pause or reversal.
— Option Monster