Swissquote’s Ipek Ozkardeskaya said that “with strong Q2 earnings already baked into prices, AI financing worries and political/geopolitical headlines are gently taking control of market action.

“Trade tensions are back in the headlines this morning following the US and Canada’s failure to reach a trade agreement, tensions in the Middle East continue to disrupt oil flows, and debt levels across the so-called developed world keep rising, with the US’ USD40 trillion debt now sitting like an elephant in the room.”