Closing changes for the main bourses:

  • German DAX -1.9%
  • UK FTSE -1.1%
  • Italy MIB -2.1%
  • Spain IBEX -1.9%
  • French CAC -1.5%

The market wants its cheap money, not rate hikes.

Some of the decline is the carryover from the weak finish in the US on Friday, some of it is the wretched sentiment today.

I don't think too many people want to step up and buy stocks before the Fed cuts. Afterward is a different story.