European Indices Show Mixed Performance as Wall Street Futures Turn Negative

Forex - Following Donald Trump's victory last week, investors in Europe are concerned that tariffs will impact the continental economy and that U.S. foreign policy could jeopardize their security. Shares of major European pharmaceutical companies, including GSK and AstraZeneca, fell after Trump nominated a vaccine skeptic for the health ministry. This decline also negatively affected the Stoxx Europe 600 index, which is heavily weighted towards the healthcare sector. Additionally, Jerome Powell's signal that the Fed is not in a hurry to cut interest rates also had a negative impact on global stock markets. In Europe, the DAX was down 0.06%, Eurostoxx 600 decreased by 0.33%, while the FTSE 100 was up 0.07%. U.S. stock futures are signaling a second day of decline on Wall Street, with Nasdaq 100 futures down 0.78%. The S&P 500 futures index fell by 0.54% and the Dow Jones Industrial Average decreased by 0.38%. Pharmaceutical manufacturers Moderna Inc., Novavax Inc., and BioNTech (NASDAQ:BNTX) experienced declines in pre-market trading in New York.