Markets Are Getting Walloped In Europe

Crashed Lamborghini Car

Photo: via Wrecked Exotics

Markets continue to get whacked in Europe.England’s FTSE 100 is down 0.5%.

France’s CAC 40 is down 1.0%.

Germany’s DAX is down 0.6%.

Spain’s IBEX is down 1.5%.

Italy’s FTSE MIB is down 1.3%.

German business confidence, as measured by the Ifo Institute, sank to 101.4.  This is the lowest level since February 2010.  SocGen’s Klaus Baader wrote that this reflects a 0% GDP growth rate for Europe’s largest economy.

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