It probably could actually be worse.
In the very early going of the open of the week, European markets are down, but they’re not getting killed.
Italian stocks are off 1%, which is not horrible given all the incessant talk over the weekend about how it’s the next Greece.
More ominously, yields on short-term government debt are ripping higher.
Greek stocks are down 1.4%.
German stocks are down 0.8%.
Everything in the US (futures, commodities) is pointing down.
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