Bayer AG collapsed and dragged the German shares down with a tribute after the daughter of Monsanto lost a lawsuit in California. Monsansto will have to pay nearly $ 300m. fine because of the claims that Roundup causes cancer. As a result, the healthcare sector suffers serious losses that I expect to accumulate during the US stock exchange.
In addition, traders have turned their attention to the crisis in Turkey and resort to Safe haven instruments, such as JPY. At present, there are no convenient positioning capabilities long, as with indexes, so with Safe Haven tools. We're waiting, with any downward adjustment we'll use for positioning with Long on JPY and USD/TRY.
Source: Bloomberg Finance L.P.
Chart: Used with permission of Bloomberg Finance L.P.
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