Concerns about trade/NATO costs weigh on the market

The European stocks are ending the session with big losses. The market is concerned about further escalation of trade wars. Trump's is rattle the cages for more money from NATO members for defense. He looks for nations to not only get to 2% of GDP, but to push to 4% of GDP (according to the Bulgarian President). That would be a burden on many economies who are having trouble reaching the 2% target.

  • German Dax fell -1.44%
  • France CAC fell -1.32%
  • UK FTSE fell -1.29%
  • Spain's Ibex fell -1.54%
  • Italy FTSE MIB fell -1.58%
  • Portugal's PSI20 down -0.44%

In the 10 year debt sector:

  • Germany 0.366% up 4.7 bps
  • France 0.646%, down -1 bps
  • UK 1.293%, -0.9 bps
  • Spain 1.304%, up 2.6 bps
  • Italy 2.69%, up 1.8 bps
  • Portugal 1.773%, up 1.8 bps

In other markets:

  • Gold is down $8 at $1247.80
  • WTI crude oil futures are down $1.80 despite a huge drawdown of inventories The contract trades at $72.31, that is not far from the low price at $72.25

In the US stock market, the major indices are lower

  • S&P index down -18.36 points or -0.65% at 2775.61
  • NASDAQ is down -50 points or -0.64% at 7709.73
  • Dow is down -186 points or -0.75% at 24739