Europe Is Getting Bludgeoned Today

US futures are still sagging, but the real damage is in Europe (where Greek-German spreads hit an all-time high this morning) right now.

France’s CAC-40 is off over 1%. The IBEX is off over 2%.

What’s up? Yesterday Europe got a hot CPI report. Today there was an even hotter PPI number, and a host of some weak services PMI reports.

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