Market Commentary: Tuesday 11th March

A global selloff in stocks eased in Asian hours as U.S. equity-index futures, Treasury yields, and cryptocurrencies were all lower overnight. The Nasdaq was down 4%, the S&P 500 was down 2.7%, and the Dow Jones fell 2.08%. The S&P closed below the 200-day moving average at 5,735, with support seen at 5,400—the low from September '24. It would take a brave person to buy this dip immediately.

In European news, Germany’s Greens are ready to negotiate and see a chance for an agreement by the end of this week in a dispute over defense spending with the country’s prospective next ruling coalition, led by chancellor-in-waiting Friedrich Merz.

Data is thin on the ground today. U.S. job openings (JOLTS) are the highlight, while domestically, the focus is on a chilly Cheltenham. The famous "Cheltenham Roar" will be heard at 13:20, while elsewhere, "stock watching" is the main game in town.