All major U.S. indices are down significantly this morning, even though banks posted strong earnings this morning. Concerns seem to be centering around the lack of lending by those banks, which implies that the broader recovery will continue to remain sluggish.
- Dow down 1.73%
- S&P 500 down 1.91%
The NASDAQ now down 1.97%:
Notably, the CAC 40 in France is really struggling today, down 2.57%. French banks Credit Agricole, Societe Generale, and BNP Paribas are dragging the CAC down.
- Credit Agricole down 3.42%
- Societe Generale down 3.03%
- BNP Paribas down 2.34%
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