UPDATE: European Markets Are Going To Total Shambles

UPDATE 10:00 AM ET:

Europe has been down all morning, and it’s becoming a complete wreck.

Spain is off over 5%.

Italy is down 4.3%.

The euro is collapsing, and it has fallen to a low against the yen not seen since November 2000.

Yields are soaring everywhere.

So far, anyway, the impact in the US has been fairly muted. Markets are down about 0.6%

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UPDATE:

This is getting really bad in Europe.

Now Italy is down to 3.3%.

The Spanish 10-year yield is above 7.1%.

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ORIGINAL POST: Oof.

Europe is getting bad.

Italy down 2.5%.

image

Spain is down 2%.

Meanwhile, peripheral yields are shooting up and yields in the core are collapsing.

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