The Euro Is Diving, Italian Yields Shooting Higher, And Everyone's Freaked Out About Hungary

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Photo: Sugar Pond, Flickr

All kinds of fresh Eurozone nerves today.The euro is diving, falling back below $1.29.

Italian government 10-year bonds are yielding solidly above 7% once again. And after falling over 2% yesterday, Italy’s FTSE MIB index is off over 1.2% today. Now it’s down over 3%.

Also on the Italy front, the big bank UniCredit, that got smashed yesterday, is getting hammered once again today, losing another 7%.

Another one to watch is Deutsche Bank, which is off 5% right now.

Also, there are heightened fears about Hungary, and whether it is on the brink of default.

Something else to check out: The relentless selling in the Shanghai Composite continues into the new year.

The bright spot: US futures aren’t down too much.

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