Europe Had A Horrific Day

little girl and her dutch soccer player father sad consoling

European markets just closed after experiencing a brutal sell-off.

England’s FTSE fell 1.9%.

France’s CAC 40 fell 2.1%

Germany’s DAX  tumbled 2.1%

Spain’s IBEX fell 1.7%

Italy’s FTSE MIB tanked 2.6%.

A string of Flash PMI reports across Europe improved, but still came in below the 50-level.  This suggests that Europe’s manufacturing and services industries are still contracting.

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