Morning Bid: Trying to contain US market contagion

April 22 (Reuters) - A look at the day ahead in European and global markets from Wayne Cole.

There is an old saying that when the U.S. sneezes, the world catches a cold. But if the malady is a self-inflicted wound, is contagion inevitable? There might be a hint of that in Asian markets today given the Nikkei (.N225), opens new tab is flat even though the S&P 500 (.SPX), opens new tab shed 2.4% on Monday. Usually it would be down 1,000 points. And that's despite a stronger yen.

After all, the money fleeing U.S. assets has to go somewhere, and not just to European defence stocks. Thus, according to LSEG Lipper data, investors bought a net $11 billion in European equity funds and $3.6 billion in Asian equity funds in the week to April 16, while U.S. equity funds saw an outflow of $10.6 billion.

Since then, President Trump has upped the stakes by attacking Fed Chair Pow...
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