Markets Are Tumbling Into The Last Hour Of Trading, DOW OFF 115

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Photo: Google Finance

Markets are tanking.Earlier this morning, we got a trio of disappointing U.S. economic data.

Weekly initial jobless claims came in at 386k.  Economists were looking for 370k.

The Philly Fed Index sank to 8.5. Economists were looking for a reading of 12.0.

Existing home sales fell to 4.48 million.  Economists were looking for 4.59 million.

But the U.S. sell-off is nothing like the European sell-off.  Spanish and French markets fell by 2 per cent.

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