© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt
(Reuters) – European stock index futures fell more than 1% on Friday following steep losses on Wall Street in the previous session as a jump in bond yields and concerns of lofty equity valuations hammered demand for risky assets.
were down 1.6% by 0606 GMT, while futures and lost 1.2% and 1.3%, respectively.
In Asian trading, stocks skidded to one-month lows and the dollar rose from a three-year trough as the hit a one-year high of 1.614%, sparking fears the heavy losses could trigger distressed selling in other assets.
On Wall Street, futures tracking the shed 0.6%, a day after the posted its biggest daily percentage fall in four months, with growth-oriented technology stocks bearing the brunt of the sell-off. S&P e-mini futures were down 0.2%.