February 9, 2018 / 6:53 AM / 2 months ago

LIVE MARKETS-"Here we are in official correction territory"

* U.S. stocks plunged around 4 percent

* Asian shares sink

* European bourses seen opening lower

Feb 9 (Reuters) - Welcome to the home for real time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Julien Ponthus. Reach her on Messenger to share your thoughts on market moves: julien.ponthus.thomsonreuters.com@reuters.net

“HERE WE ARE IN OFFICIAL CORRECTION TERRITORY” (0650 GMT)

Sometimes you just have to call a spade a spade, and that’s what Rabobank analysts did in their morning note.

“Here we are in official correction territory”, they wrote, pointing out that with Thursday’s drops, the benchmark S&P 500 and the Dow industrials have fallen more than 10 percent from Jan. 26 record highs.

(Julien Ponthus)

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BAML’S BULL & BEAR INDICATOR STILL SAYS SELL (0635 GMT)

Bank of America Merrill-Lynch’s indicator of market sentiment is down from 8.6 to 8.5 but that, according to its analysts, remains in “excess bullish” territory and still signals a “sell”.

The indicator had jumped of market sentiment jumped from 7.9 to 8.6 on Jan 30, driven up by record inflows to equities and bullish hedge fund risk appetite.

(Julien Ponthus)

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MORNING CALL: EUROPE TO OPEN IN THE RED AFTER NEW WALL STREET SELL-OFF (0615 GMT)

Good morning and welcome to Live Markets.

European bourses are expected to open in the red this morning after Wall Street’s fresh new sell-off. The bottom of the slide remains elusive but this current trend sure seems to be threatening to throw the market’s bull run off course.

Spreadbetters are calling the DAX 23 points lower, the CAC 40 down 8 points, and the FTSE down 40 points.

Considering that U.S. stocks plunged around 4 percent on Thursday, this looks, so far, like a limited reaction from our side of the pond. .

(Julien Ponthus)

Reporting by Danilo Masoni, Helen Reid, Kit Rees and Julien Ponthus

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