European stocks opened broadly lower, led by heavy selling in Italy as risk-off
sentiment intensified. Brent crude traded above $107/bl after this week’s
attacks on Saudi energy infrastructure revived supply worries, while the 10-year
US Treasury yield climbed above 5.02%, its highest since 2007. One day ahead of
the Fed decision, those moves heightened inf concerns and pushed Italy’s
benchmark lower, with banks under renewed pressure after yesterday’s heavy
sell-off. Yesterday’s selling also hit tech names including Prysmian and
STMicroelectronics. US futures pointed down: S&P 500 futures about -0.4%, Nasdaq
futures -0.3%, reflecting yesterday’s tech-led losses. Markets are contending
with oil >$100, 10-year UST >5%, a potentially hawkish Fed outlook and lingering
AI uncertainty.
