This bath looks rather red and gory

  • FTSE -2.2%
  • Cac -3.5%
  • Dax -3.0%
  • Ibex -3.0%
  • FTSE Mib -4.7%
  • Greek ASE -5.6%

European bond yields have had a late blowup as well and as stocks go out are all around the highs for the day

  • Italy 1.85% +10bp
  • Spain 1.61% +11bp
  • Portugal 2.52% +10bp
  • Germany 0.51% +1bp
  • Greece 9.61% +36bp

It looks like there’s a lot of fear coming into the market and we’ll need to decide over the next couple of days whether it is founded or not.