Europe Is Getting Clobbered, Dow Off 140, S&P Streak In Jeopardy

explosion fire

Photo: US Navy

ORIGINAL POST: Finally!Real selling

European markets are getting clobbered today.

Both Germany and France are off 2 per cent.

Italy is off 2.2 per cent.

Dow futures are off 115, and S&P futures are down over 1 per cent.

If the S&P 500 ends down 1 per cent at the end of the day, that will be the first loss of that size since late December, ending a big streak.

Finally, something interesting is happening in the market.

As for news, well … there really isn’t that much.

There are headlines out of Greece about how they will probably have to trigger the Collective Action Clause to force a bondswap, which will likely result in CDS triggering.

And the news out of China — that it’s slowing its growth objectives — continues to reverberate.

There’s not that much new out of Iran for gas or oil, and in fact oil prices are down a bit.

UPDATE:

The market is open, and stocks are getting smoked.

The Dow is off 144.

The S&P is off more than 1 per cent.

Gold is getting hammered, losing another 30/oz.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.

Tagged In

markets moneygame-us