Stocks Are Red And French Banks Are Cratering (Again)

Once again, the market has done a total 180 from where it was in the pre-market.

Whereas all of last week stocks were green after pre-market selloffs, today stocks were up big, and are now in the red.

Special focus must be paid to France and French banks, which reportedly have been cut off form FX swaps trading from the Bank of China due to funding fears.

So the French banks are tanking.

SocGen is off over 5%.

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And here’s BNP Paribas making a very similar move:

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