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%
This is getting really bad in Europe.
Now Italy is down to 3.3%.
The Spanish 10-year yield is above 7.1%.
ORIGINAL POST: Oof.
Europe is getting bad.
Italy down 2.5%.
Spain is down 2%.
Meanwhile, peripheral yields are shooting up and yields in the core are collapsing.