Photo: Angie Vianzon on Flickr
European stocks dove today in what constitutes their biggest drop since November of last year according to Bloomberg.
- DAX: -3.08%
- CAC 40: -3.27%
- FTSE 100: -1.66%
This marks an about-face from recent positive sentiment in the markets. Last week’s three-year LTRO—while narrowly beating expectations—didn’t really impress anyone, and renewed worries about Portugal and Spain are adding to continued preoccupations about Greece.
Meanwhile, Spanish and Italian bond yields jumped today by 17 bps and 14 bps, respectively, both topping the 5% mark.
Check out the jump in Spanish 10-year yields today: