Markets Slide Into The Red

Paris france stock exchange traderREUTERSA dealer at the Paris Bourse gestures during nervous stock exchange trading, July 30, 1993.

After spending much of the morning up, markets are now negative.

France’s CAC 40 is down 0.4%.

Germany’s DAX is down 0.4%.

Spain’s IBEX is down 1.1%.

This follows Greece’s first bond sale in four years.

The debt-laden country managed to sell 3 billion euros (or around $US4.16 billion) of 5-year bonds at an interest rate of 4.95%.

Demand was huge. WSJ’s Katie Martin noted around 550 accounts placed orders. Demand for the 3 billion euro bond sale was actually closer to 20 billion euros.

Still, Greece’s economy remains in trouble.

This morning, we learned that the unemployment rate was at 26.7% as of January. While this is down from 27.2% the month prior, it’s still far above the 8.9% level booked in January 2009.

Meanwhile, U.S. future are in the red. Dow futures are down 37 points. S&P 500 futures are down 4.4%.

Later this morning, we’ll get the latest weekly report on initial unemployment claims. Economists estimate claims fell to 320,000 from 326,000 a week ago.

Here’s a look at how Dow futures have been moving.

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