European Markets End With A Total Faceplant

face plant

Photo: YouTube

European markets plummeted today, amid a string of bad news about the possibility of a Greek default, the fragility of French banks, and bad manufacturing numbers.Here are the numbers:

DAX: -4.91%

CAC 40: -5.16%

FTSE: -4.96%

A Telegraph report came out today citing a source who says EU officials are resigned to the fact that Greece will default, but think the troubled nation will probably stay in the euro.

Sub-par numbers out of the eurozone didn’t help matters: both manufacturing and services PMIs fell from August.

Reports that banks like BNP Paribas are scrambling to find funding in the Middle East killed French banks, too, harkening to fears that liquidity is drying up for French lenders.

SocGen: -8.86%

BNP Paribas: -4.85%

Credit Agricole: -8.91%

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