LIVE MARKETS-Europe before the bell: share selloff resumes, Treasuries in focus

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EUROPE BEFORE THE BELL: SHARE SELLOFF RESUMES, TREASURIES IN FOCUS

U.S. Treasuries look set to be the main character in this episode of the tariff-induced market turmoil with the U.S. 10 year yield up a stonking 16 basis points on the day at 4.42%. US10YT=RR Even more remarkably that's down from as high as 4.515% in early Asia trade.

Not surprisingly stocks aren't liking this, and Euro Stoxx 50 futures are 3.5% lower STXEc1. So much for yesterday's bounce. U.S. futures are also down nearly 2%. ESc1

It's not just Treasuries of course, President Donald Trump's "reciprocal" tariffs on dozens of countries took effect on Wednesday, including massive 104% duties on Chinese goods, pushing back any optimism about deals to soften the blow.

The other tariff news that's going to be in the mix is Trump's overnight remarks that the U.S. will soon announce a "major" tariff on pharmaceutical imports.

Company specific news is pretty thin on the ground, and even if it weren't it'd be hard for any stock to swim far against the tide.

(Alun John)

FOR EARLIER LIVE MARKETS POSTS:

MORNING BID: MARKETS COWER AS 104% TARIFFS ON CHINA BEGIN CLICK HERE