Major indices get hammered
The European stocks took a beating today. The provisional closes are showing:
- German DAX, -1.6%
- Francis Tackett, -2.0%
- UK's FTSE, -2.0%
- Spain's Ibex, -1.8%
- Italy's FTSE MIB, -1.38%
For the week, apart from the Italian FTSE MIB which was near flat, the other indiices are down.
- German DAX, -2.75%
- France's CAC, -2.5%
- UK FTSE, -0.26%
- Spain's Ibex, -1.56%
- Italy's FTSE MIB, unchanged
10 year benchmark yields were also lower today. The big news is that the German 10 year fell below the 0% level for the 1st time since October 2016. Other yields were also lower:
The US stocks are trading near low levels as London/European traders look to exit:
- S&P, -50 points or -1.77% at 2804
- Nasdaq -172 points or -2.19% at 7667.45
- Dow, -427 points or -1.65% at 25530.
US yields are sharply lower with the 10 year moving down about -10 bps
the unique
