European Markets Deteriorating After China Gets Slammed

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Photo: Andrey Belenko on

ORIGINAL POST, SEE UPDATE BELOW: Another very quiet start to the market-week.Across Europe, there’s generally no direction.

Italy is a little bit higher. Spain is a bit lower. And Germany is flat.

Across the periphery, borrowing costs are a bit wider across the board, but not dramatically so.

On the other hand, China got whooped pretty hard last night. Leadership keeps talking stimulus, but that’s just being seen as evidence of more slowdown. The Shanghai composite fell 1.7%.

US futures are off modestly.

UPDATE: Things are getting uglier for Europe.

Italy is now off 0.4%.

The euro is starting to crumble a little. Core yields are dropping sharply. Nothing gigantic, but definitely worse than earlier levels.

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