REBOUND GONE: Europe Dives Into The Red, US Futures Slip

So much for the stabilisation after Thursday’s selloff.

European markets have lost early gains, with the FTSE 100, the CAC 40 and the DAX off over 1%. Oil fell too reaching $79.06/ barrel and gold declined to $1711/ ounce.

Dow futures point to a negative open, losing early gains of nearly 100 points.

Last night’s unexpected G-20 statement pledging to take strong coordinated actions to support Europe apparently was not convincing.

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