Despite the string of horrendous manufacturing reports across Europe, markets are taking them in stride, as they were mostly expected.
Italy is down on the day. Spain is flat on the day. France and Germany are up a little bit, but nothing to write home about.
US futures are up a little.
Meanwhile, it was an ugly night in Asia.
Japan’s Nikkei continues to lose steam. Stocks fell another 1%, which was on top of the greater than 1% decline the day before. The big Abenomics rally has really started to fade, as doubts rise about whether the Central Bank can engineer the inflation and recovery it has promised.
Stocks lost 0.3% in Shanghai.
For the full rundown of the economic mess in Europe today, see here.