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MORNING CALL: SAY BYE BYE TO 2021 GAINS? (0626 GMT)
With European futures trading down between 0.7% and 1%, it is most likely that the STOXX 600 will open in negative territory year-to-date, kissing all remaining 2021 gains goodbye.
The pan-European index settled at 402.98 points yesterday and all it needs to do this morning is lose 4 points to go under the 399.03 points it closed 2020 with.
Frankfurt's DAX, France's CAC 40, Milan's FTSE MIB and Madrid's IBEX are already in red for 2021.
Even if Europe isn't set to get the same beating than Wall Street yesterday, with the S&P and the Nasdaq losing 2.6%, the old continent's bourses are bound to feel some pain of the short squeeze frenzy hitting hedge funds.
In Asia, MSCI's broadest index of Asia-Pacific shares outside Japan skidded 2% while Japan's Nikkei fell 1.5%.
(Julien Ponthus)
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