European stocks are tumbling

A truck stuck in a holeReuters PhotosSink hole in China

Growing concerns about the health of the Chinese economy, a potential rate hike from the US next month coupled with a volatile Greek election are creating the perfect market storm.

Everything is down at the moment in Europe:

Germany’s Dax: 0.40%

UK’s FTSE: -0.62%

France’s CAC40: -0.32%

Italy’s FTSE MIB: -0.26%

Spain’s Ibex: -0.68%

Asian markets closed lower today. The Shanghai Composite Index was down a whopping 4.27% while the Hang Seng Index in Hong Kong was down 1.27%. Brent crude is off 0.97%.

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