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The markets were enjoying a nice mini-run up until around the time on Wednesday afternoon, when Bernanke opened his mouth, and revealed that QE3 was not imminent.Since then the selling has resumed. Markets went negative yesterday, and that’s what’s going on again today.
US futures are down, and all of Europe is lower. France is off 0.8%. Same too with Athens. Same too with Germany. Spain is off an even uglier 1.4%.
The other big story is Greece, where there are fresh concerns about the austerity package.
Specifically, there are reports of a big “hole” in the package, meaning that it doesn’t accomplish as much as it claims to, and the new Greek finance minister is pissing off everyone in Europe by trying to establish wiggle room on the austerity vote.
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