Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
All major global stock markets are sinking right now and U.S. stocks are set to open with significant losses.
Brace yourself, and read this.
1) That sinking feeling
U.S. stock futures are all declining by about 1% and nearly every major stock market index in Europe and Asia is lower by roughly 1% to 3%.
Investors seem to be reacting to the yuan's slide against the U.S. dollar, which is creating uncertainty about global trade dynamics.
Many other emerging market currencies are declining across Asia, with the Indian rupee down about 1% to a two-year low versus the U.S. dollar.
On Tuesday, the Dow Jones industrial average lost 212 points, closing 1.2% lower. The S&P 500 also dropped 1% and the Nasdaq shed 1.3%.
2) Oil at a six-year low
Crude oil futures are trading around a six-year low after posting a big drop Tuesday.
Crude settled at $43.08 per barrel on Tuesday, but the price has since recovered a bit.
The U.S. government is reporting crude oil inventories data at 10:30 a.m. ET, which could move prices again.
3) Earnings
Macy's (M) and Alibaba (BABA, Tech30) are among the companies reporting quarterly earnings before the opening bell.
Cisco (CSCO, Tech30) and Rupert Murdoch's News Corp (NWS) will report after the close.
4) Stock market mover
Fossil, Apple: Shares in Fossil (FOSL) were dropping by just over 7% in extended trading as investors react to the latest quarterly figures released on Tuesday afternoon.
Apple (AAPL, Tech30) shares are also dipping by about 2%.
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