Not a good day for European stocks today (or stocks in general)

Technical Analysis

Author: Greg Michalowski | gerrman-dax

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:

Major indices got hammered in Europe today as did yieldsThe 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 US yields are down sharply

ForexLivethe unique
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