European Markets Are Sliding

Major European equities markets opened up early Friday after mostly unsurprising stress-test results from the European Central Bank, but they have all now dropped into the red.

Here’s the scorecard, so far:

France’s CAC 40 is down 0.41%

Spain’s IBEX is down 1.09%

Italy’s FTSE MIB is down 1.17%

Britain’s FTSE 100 is down 0.32%

Germany’s DAX is down 0.50%

Asian markets closed mixed. The Nikkei closed up 0.63%. The Hang Seng closed down 0.68%.

US futures are have also now fallen into negative territory. The Dow is down 10 points, and the S&P is down 2.75 points.

The Ifo institute’s index of German business confidence might take some of the credit for the sudden slide. It has dropped to the lowest level since 2012, coming in below analyst expectations.

Later from the US at 9:45 a.m. ET, Markit’s services PMI is out, with analysts expecting a reading of 58. That’s slightly down from last month but still way above the neutral 50 level that signals growth. September’s figures for pending home sales will be out at 10 a.m. ET.

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