[Updated at 9:40 EDT.]Happy July 4! Markets are tumbling in Europe!
It’s going to be a quiet day because of the lack of US trading, but let’s be honest, the European market is the only market that really matters, and it’s down.
Italy is off 1.4%.
Spain is off about 1.3%
Germany is off 0.7%.
There have been a string of mostly negative (but expected) service PMI reports, although Germany’s did dip below 50.
Other than that, the world awaits the ECB tomorrow.