European Markets Are Getting Slammed Hard As The Dollar And China Defy Gravity

Float Dollar

Asia fell on U.S. weakness, except for Shanghai thanks to a late-day surge:

China: +0.7% (CSI 300) 

Asia: -1.0% (MSCI Asia Apex 50) 

Japan: -0.6% (Nikkei)

Hong Kong: -1.1% (Hang Seng) 

Australia: -0.5% (ASX 200)

European markets are routing hard:
London: -1.3% (FTSE 100)

Paris: -1.6% (CAC 40)

Frankfurt: -1.6% (DAX)

The Euro: $1.256 (-0.5%)

Yet the dollar is rallying. Commodities are weaker with gold and the BDI still falling: Dollar Index: +0.3% (DXY 84.3)

Gold: -0.4% ($1,194)

Oil: -0.5% (Light Sweet Crude $71.1)

Baltic Dry Index: -4.0% (BDI 2,127) 


Brace for a drop, say U.S. futures:

Chart

(Graphic via Finviz)

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