American futures rebound after $3 trillion global stock rout
On Tuesday, Wall Street futures pointed to a recovery after two days of descends, which wiped a record $3.01 trillion off the face of global equities because the outcome of the UK’s referendum on its membership in the European Union shocked markets with a verdict to leave.
The blue-chip Dow futures acquired up to 194 points, the S&P 500 futures surged 21 points, while the tech-heavy Nasdaq 100 futures grasped 46 points.
As Howard Silverblatt states, on Moday, S&P Dow Jones Indices and the S&P 500 lost $317 billion, thus bringing its two-day loss total to approximately $974 billion, the third worst dip in its history.
In this context, on Tuesday, global stocks were renouncing and reversals were observed in most asset classes.
The British pound moved away from a 31-year minimum, while safe-haven assets such as the Japanese yen or gold pared some of their recent revenues.
Oil also staged a recovery from seven-week minimums with sentiment further spurred by worries over supply disruption in Norway, where approximately 755 workers on seven gas and oil fields could go on strike from Saturday if a new wage deal fails to be agreed before a Friday deadline.