The Big Story: At the day’s close, stronger eurozone members France and Germany’s losses moved closer to fringe states like Spain, Portugal, and Italy.
Markets at close:
Spain’s IBEX, down 6.4%
Portugal’s PSI, down 4.36%.
Italy’s MIB, down 5.17%
France’s CAC 40 is down nearly 4.51%.
Germany’s DAX is down over 3.12%.
The UK’s FTSE is down over 3.14%.
11:29 AM Update:
Late chart of the IBEX, now down nearly 7.2%
11:25 AM Update:
The euro is down against the dollar around 1.2%
11:20 AM Update:
The fall is accelerating on Spain’s IBEX, down nearly 5.7%.
Portugal’s PSI is down over 4%.
France’s CAC 40 is down nearly 3.8%.
Germany’s DAX is down over 2.5%.
The UK’s FTSE is down over 2.6%.
European banks are at the centre of the crisis, with several effected:
Spanish bank Banco Santander, down nearly 9.25%
Spanish bank BBVA, down around 8.2%
French bank Societe Generale, down nearly 8.2%
French bank BNP Paribas, down around 6.4%
French bank Credit Agricole, down around 6.2%
UK bank Barclays, down 6.75%
German bank Deutsche Bank, down nearly 5.3%
Last weekend’s massive European bailout was supposed to fix everything, right? Well it doesn’t look like it today, with markets across Europe getting decimated by further concerns over the euro’s future.
U.S. indices are also charting lower, DOW down 1.55%, S&P 500 1.83%, and NASDAQ 2.17%.
The fall is most obvious in the PIGGS countries.
Italy’s MIB, down nearly 5.2%
Spain’s IBEX, down 5.2%
Portugal’s PSI, down 3.7%