Global stocks continue sell-off

Global stocks continued on their downward trajectory, as a sharp sell-off in the US overnight, which pushed the S&P 500 index into negative territory for the year, moved many global indices closer to their worst monthly performance since the global financial crisis. US technology stocks were particularly hard-hit as weaker-than-expected earnings and heightened geopolitical uncertainty continued to impact large international companies. While markets are likely to remain volatile over the coming weeks, US earnings season is still underway which could surprise on the upside, while valuations for US and global equities have fallen to levels which are appearing more attractive from a risk/reward perspective.