And because the behavior of markets can often be contradictory, this time, it’s good economic data that’s weighing on sentiment.  The U.S. services sector unexpectedly did better than expected in August, which goes against the idea that the US economy and inflation is cooling, and strengthens the case for higher rate hikes for longer.

Commodity stocks fell on fears for Chinese demand, while Cardboard maker DS Smith and insurers Admiral and Prudential are all down because they passed their ex-dividend date.

Melrose Industries climbed 8.2% after it raised its annual profit guidance thanks to higher margins at its engines division.

Things to read today:

China’s exports tumble as pressure grows for economic support from Beijing (Financial Times)

European carmakers bet on a future with e-fuel vehicles (Financial Times)

Visco Says ECB Is Nearing Point It Can Stop Hiking Rates (Bloomberg)