German Dax ends down over 3%

The European stocks are ending down with sharp declines:

  • The German Dax is down -3.08%
  • The France CAC is ending down -2.35%
  • The UK FTSE is ending down -1.59%
  • The Spain's Ibex is lower by -2.48%
  • The Italian FTSE MIB is down -2.53%
  • Portugal PSI 20 fell by -1.28%

Ouch!

In the 10 year debt sector, rates are higher:

  • Germany 0.758%, up 1.4 basis points. The yield did move up to about 0.80% in trading today
  • France 0.994%, up one basis point
  • UK 1.613%, up 6.2 basis points. BOE Carney signalled that a rate hike might be sooner than expected. The high yield did extend to 1.655% before coming back down.
  • Spain 1.451%, up 3.6 basis points
  • Italy 1.993%, up 4.4 basis points
  • Portugal 2.032%, up 1.8 basis points

At the London/European close, US stocks are also taking it on the chin (but are seeing a little rebound now).

  • S&P is down -30.4 points or -1.14% at 2651.01. The low reached 2641.27. That was just above its key 100 day moving average at 2639.03.
  • NASDAQ is down -98 points or -1.39% at 6955.18. The low reached 6929.85.
  • The Dow is down -375 points or -1.51% at 24517. The low reached 24425

In the US debt market, yields are higher but off the peaks:

  • two-year 2.1257%, near unchanged
  • five-year 2.5718%, up 1.5 basis points
  • 10 year 2.2853%, up 1.7 basis points
  • 30 year 3.1455%, up 3.15 basis points. The U.S. Treasury will auction off 30 year bonds at 1 PM. The high-yield today reached 3.166%