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U.S. markets are negative in the premarket with S&P 500 futures down 1% on disappointing revenue and guidance from Dell (DELL) - Get Dell Technologies Inc Class C Report, down 8% in early trading.

European markets also remain under pressure as the Stoxx Europe 600 index falls into negative territory this morning. The negative action highlights investor unease after German Chancellor Angela Merkel and French President Nicolas Sarkozy fail to endorse Eurobonds as a solution to Euro debt woes, instead choosing integration as the path forward.

Asian stocks were mostly positive as Australia reported positive wage growth (nearly 1%), while China announced new cross-border initiatives with Hong Kong. Strong earnings from China Coal Energy, up 7% in Hong Kong, also added to positive sentiment.

Crude oil is trading up by 1% as investors speculate on decreasing U.S. fuel supplies ahead of today's inventory number, to be released at 10:30am. Crude has broken a major multi-month trend -- but will that keep the price below the $90 level?

The

SPDR Gold Trust ETF

(GLD) - Get SPDR Gold Shares Report

remains the go-to safe haven play for investors as the precious metal approaches $1800 again. Active traders continue to find hedging opportunities in leveraged and inverse ETFs such as the

Direxion Financial Bear 3X ETF

(FAZ) - Get Direxion Daily Financial Bear 3X Shares Report

, playing the increasing volatility via the

iPath S&P 500 VIX Futures ETF

(VXX) - Get iPath Series B S&P 500 VIX Short-Term Futures ETN Report

.

Financial sector stocks appear to be breaking down again after a bullish head fake.

TheStreet Recommends

Goldman Sachs

(GS) - Get Goldman Sachs Group, Inc. Report

,

Morgan Stanley

(MS) - Get Morgan Stanley Report

,

Bank of America

(BAC) - Get Bank of America Corp Report

and

Citigroup

(C) - Get Citigroup Inc. Report

have all consolidated in potentially bearish patterns near the bottom range of their charts.

JPMorgan Chase

(JPM) - Get JPMorgan Chase & Co. Report

remains the leader of a troubled group, while

Wells Fargo

(WFC) - Get Wells Fargo & Company Report

has positive news this week with Buffett scooping up shares and the two dozen investment bankers joining the bank by way of

Citadel

.

Baidu

(BIDU) - Get Baidu Inc. Report

continues to see tremendous selling pressure based on a CCTV report in China that accused the company of engaging in fraudulent practices with its online ad business. The reports have resulted in aggressive selling of Chinese ADRs such as

Sina

(SINA) - Get SINA Corp. Report

.

The selling in technology stocks extends to

Google

(GOOG) - Get Alphabet Inc. Class C Report

and

Amazon

(AMZN) - Get Amazon.com, Inc. Report

, both down in yesterday's session, while

Apple

(AAPL) - Get Apple Inc. Report

tries to base for the next move.

Disclosures: Scott Redler has no positions

This commentary comes from an independent investor or market observer as part of TheStreet guest contributor program. The views expressed are those of the author and do not necessarily represent the views of TheStreet or its management.