Markets Are Tumbling In Europe

Head In Hands Defeat Soccer On Ground

Photo: Hannah Johnston/Getty Images

Stocks are deteriorating in the European trading session.England’s FTSE 100 is down 0.62%.

France’s CAC 40 is down 0.63%.

Germany’s DAX is down 0.41%.

Spain’s IBEX is down 1.10%.

Italy’s FTSE MIB is down 1.31%.

Spain just wrapped a up a debt auction which went smoother than expected.  However, it was not enough to offset concerns raised by new manufacturing reports.

Earlier this morning, we learned that manufacturing output fell to a 39-month low in the eurozone.

China also registered another sub-50 HSBC Flash manufacturing PMI number. which means the industry is contracting.  Output hit a 10-month low.

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