European Markets Are Getting Destroyed Right Now

European markets continue to tumble, with Spain down well over 3 per cent.

Italy is also down more than 2.6 per cent. Italian banks continue to take a beating. UniCredit and Intesa Sanpaolo are both down about 5 per cent, Banca MPS has fallen around 4.4 per cent, and UBI Banca is off 2.3 per cent.

The core has also been affected, with the CAC 40 falling 1.6 per cent and the DAX off 1 per cent.

Notably, government bonds appear to be unaffected by the rout in equities, with Spanish and Italian 10-year yields both falling slightly today.

Check out the Spanish IBEX 35 today:

chart

Photo: Bloomberg

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