Asian markets are mainly lower this morning with the Nikkei standing out, lower by almost 3%. Chinese manufacturing data released today showed the lowest reading since September.

European equity futures are lower by around 50bps this morning, following the lead of US markets which closed sharply lower on Friday. Today we have a host of PMI data out of the UK and Europe.

US markets moved sharply lower on Friday closing below the critical 1640 support on the S&P, on ongoing speculation that the Fed may scale back stimulus efforts amid better economic data, this week will be key on that front with major employment ISM manufacturing data.

Philip Ball | Sales and Trading