Photo: Steve Jurvetson on Flickr
The week begins weak.Markets are falling around the world, especially in Europe, where major indices in Italy and Germany are off about 1%. In France, the CAC-40 is off 0.5%.
This follow on weakness overnight in Asia, where the Nikkei lost 0.8% and the Shanghai Composite lost 0.64%.
In the US, futures are off about 0.5%. We’ll take this moment to remind you that the worst day all year has been a 0.69% decline, so just a 0.5% fall would put us near that level.
Not helping: A slew of weak Eurozone service PMIs, which came in worse than expected across the board.
We’ll get the Services ISM in the US later. Should be interesting.
UPDATE: For more on the ugly European PMI situation, see here.