Photo: Wikimedia Commons
As we just told you, Italy is a disaster zone for the second day running.Not surprisingly, there’s no way that Italy, one of the world’s biggest debt markets, runs into trouble, without it having massive implications for the rest of the world.
So everything is down pretty big.
Dow futures are off 160.
S&P futures are off 22.
Oil futures are below $94.
Silver is threatening to fall below $35.
The euro is below $1.39 (just a couple days ago it was above $1.45!).
Spain’s IBEX is off 3.8%. France is off 2.4%. Germany is down 2.8%.
So yes, disaster zone all around.