European stocks are sinking in trading early Monday, following new Greek PM Alexis Tsipras’ speech, in which he laid the ground for a massive confrontation with the country’s creditors.
Greek stocks are sinking most of all: as of 9:35 a.m. GMT, they’re down 4.69%. Banks, as usual, are getting hit hardest. Bank of Piraeus is down 11.5% and Alpha Bank is down by 8.18%, after last week’s roller coaster ride.
Here’s the scorecard for the bigger European indexes:
France’s CAC 40: -1.32%
Germany’s DAX: -1.89%
UK’s FTSE 100: -0.97%
Spain’s IBEX: -1.96%
Italy’s FTSE MIB: -1.80%
Asian markets were mixed: Japan’s Nikkei closed 0.36% higher, but Hong Kong’s Hang Seng ended the session down 0.64%. Mainland China’s Shanghai Composite index ended up 0.62%.
US futures are down: the S&P 500 is 11.75 points lower than Friday’s close, and the Dow is 93 points down.
Any further big announcements on Greece’s showdown could move markets again today.