HOLY CRAP: Markets Whipsaw After France Denies Report Of A Big Greece Announcement

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Original post: OMG, this is a hilarious day.

A French spokesman has come out and rejected earlier reports that Sarkozy and Merkel were going to make some big announcement regarding Greece.

Let’s put everything in perspective for a moment…

Earlier this morning, European markets (especially the French banks) were getting killed supposedly due to an anonymously sourced WSJ op-ed about French banks losing access to dollar funding.

Then that report was denied and markets came back (a little). Then a a report came out and said that Merkel and Sarkozy were going to make a joint announcement, and markets ROCKETED higher, reversing huge losses.

And now, a French spokesman has denied that report, saying that perhaps Sarkozy would make some statement, but that there wasn’t anything big to announce.

Dow futures have now gone red and French stocks have gone red. Update: And stocks have bounced back again, and are now higher in Europe and flat in the US.


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