It seems the correlation between the risk trades and the equity markets have broken down somewhat with first the US and Asian markets down and now the DAX, FTSE and CAC all lower in morning European trading.
The FTSE is currently down -33.7 pts or 0.84% at 3,818.5 with the Financials weighing heaviest on the market as concerns remain about AIG in the US.
The DAX is faring the worst of the major European Indices down 1.6% oe -62 pts at 3,874 with Oil Producers and Insurers pulling the market lower.
The story is pretty much the same for the CAC, down 24pts at 2,703.7 which equates to a loss of -0.89%
