The Weekend Is Over, And Markets Are Getting Slammed

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Photo: Better than Bacon via Flickr

Markets are selling off early in the Asian trading session.Japan’s Nikkei is down 1.0%.

Korea’s Kospi is down 1.5%.

Australia’s S&P/ASX is down 0.9%.

According to Germany’s Der Spiegel newspaper, the IMF is seeking to pull the plug on bailout aid to Greece, which could send the debt-laden country into bankruptcy by September.

Separately, German economy minister Philipp Roesler said that the thought of a Greek exit from the euro has “lost its horror.”  Roesler is also sceptical about Greece’s ability to meet requirements to get its bailout funds.

U.S. futures are down in electronic trading.  Dow futures are down 55 points.

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