European stocks end with sharp losses on the day

Technical Analysis

Author: Greg Michalowski | german-dax

German Dax -1.5%. UK FTSE -1.15%.

The major European stock in season ending the day with sharp losses. The provisional closes are showing:
  • German DAX, -1.54%
  • France's CAC, -1.70%
  •  UK's FTSE, -1.15%
  • Spain's Ibex, -1.2%
  • Italy's FTSE MIB, -1.24%
In the benchmark 10 year note sector, yields have continued their trend lower with the larger declines in the more "risky" countries ( Spain Italy Portugal).

German Dax -1.5%. UK FTSE -1.15%.
In other markets, as traders in London/Europe look toward the exits:

  • Spot gold is trading at $3.28 or 0.25% at $1282.61
  • WTI crude oil futures are getting smashed at $-2.04 or -3.42% at $57.11. The oil complexes getting hurt on expectations for weaker global demand
In the US stock market, major indices are trading near session lows. The S&P index and the NASDAQ index are also trading below their 200 day moving averages:
  • S&P index -31.7 points or -1.15% at 2770.40. 200 day moving averages at 2776.08
  • NASDAQ index -89.6 points or -1.18% at 7517.80. 200 day MA is at 7527.09
  • The Dow industrial average as trading down 3-320 points or -1.26% at 25052
In the US debt market yields are sharply lower, as risk off flows send investors flocking to the US treasury market. The two-year yields are down -6.4 basis points. The 10 year yield is down -5.3 basis points

US yields are sharply lower
IN the forex market, the CHF remains the strongest and the NZD remains the weakest. The USD is finding more of a bid with EURUSD, GBPUSD, USDCAD, AUDUSD, and NZDUSD all reaching new extremes the last hour (trading at USD high levels).

The strongest and weakest currencies
By continuing to browse our site you agree to our use of cookies, revised Privacy Notice and Terms of Service. More information about cookiesClose