There were two big developments for Europe this weekend, which we wrote about here: Nicolas Sarkozy came in 2nd in the French election (And there was a huge result for right winger Marine Le-Pen), and in the Netherlands, the party led by right-winger Geert Wilders torpedoed a budget deal.
So on top of Spain, Italy, and everything else that’s of concern, now there’s drama in France and the Netherlands, as the Euroskeptics are surging.
So it’s no surprise that the market is getting off to a negative footing.
The euro is down modestly, and US futures are off to the tune of 0.3%. Here’s a look at Dow futures, via FinViz:
UPDATE: After starting green, the big Asian markets like Korea and Japan have now gone into the red.
Here’s the Nikkei.