Markets are off of their lows, but it’s still ugly.
The Dow is down 140 points, or 1.1%
The Nasdaq continues to get slammed, down 1.8%
Markets are getting destroyed today.
What’s going on? Basically everyone’s nervous that this weeks’ big EU summit will end in a total flop, and Angela Merkel is already on the wires saying ‘Nein’ about various ideas like joint bank guarantees, and so forth.
European markets finally closed, but they closed at their lows.
Italy was the biggest loser, down 4%.
Meanwhile, U.S. stocks continue to get shredded.
The Dow is down 170 points, or 1.3%.
The Nasdaq is getting slammed, down 2.1%.
Italy is now off 3.6%.
The Dow is off 159.
The NASDAQ is down 1.8%.
Germany down 2.3%.
Italy is now off 3.4%. This is really ugly.
UPDATE: It gets worse, Dow off 145.
ORIGINAL POST, SEE UPDATE BELOW: It’s an ugly start to the US trading day.
The Dow is down 121.
The S&P 500 is off over 1%.
Italy is just getting clobbered, the its FTSE MIB index down nearly 3%. Banks are getting halted as well.
This is an intraday chart of the Italian market.
Photo: FTSE MIB