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European stock markets in trouble, S&P 500 futures down 20 points

S&P 500 futures were comfortably higher a few hours ago, but turned negative as the euro hits a 20-year low.

The market signals the risks of a euro zone or a global recession. Natural gas prices in Europe continue to soar and the ECB is expected to raise rates in July and September.

European stocks led the sell-off with the Stoxx 600 down 0.5%, the FTSE 100 down 1.1% and the German DAX down 0.9%.

Right now, the price action on FX is more dramatic than anything happening in the stock market, but that could change in the near term.


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