US stock futures and the crypto market opened lower on Monday, following the news of market losses in Asia and energy market crisis in Europe. The FTSE 100 was 1.6% lower during the intra day session. S&P futures was down 1.31%, Dow futures down 1.55%, Nasdaq down by 1.06% and Russel 2000 down by 1.82%.
Crude Oil took a hit as well sliding down as much as 2.2%.
Wholesale gas prices have soared more than 250% since January 2021 and the UK Government is currently considering state-backed loans to companies to offer support during this crisis. Evergrande’s saga continued as its shares plunged 17% at one point, closing the day with 12.2% lower; dragging the Hang Seng down 3.6%.
The Hang Seng’s worries combined with the gas price surge is spreading worries across the market including commodities and crypto. Bitcoin fell below the $45,000 mark, Solana and Cardano fell more than 10% and Ethereum is currently down