June 10, 2016- Stocks Trade Lower as Commodities Slide

Risk aversion is intensifying on Wall Street on Friday, as reflected by the trading in the U.S. index futures, which point to a notably lower opening. After Asian stocks closed lower, the European markets also got off to a dismal start, as commodities slid and the dollar strengthened ahead of next week's FOMC meeting. Although Fed Chair Janet Yellen suggested that rate increases will only be gradual, the markets are still dreading the second tightening in the current monetary policy cycle. Meanwhile, across the Atlantic apart from these risks, another risk is raising its ugly head, as Britons prepare to vote on a referendum to decide whether they are better off staying in the European Union. U.S. stocks declined on Thursday amid profit taking triggered by recent gains and waning of risk appetite.