US futures are indicating a lower open. European equity markets are weaker as well, following broadly negative Asian trade. Yesterday's Fedspeak showed awareness of the risk of a policy mistake. But Fed's relentless raise-and-hold strategy stays the key focus, with tightening cycle and higher rates weighing on market multiples and continuing to play into the growing recession fears. ECB’s ability to hike rates is also said to be potentially compromised if the economic downturn accelerates.
Companies mentioned: Nektar, PureTech Health, Coinbase (NASDAQ:COIN)