Markets in Asia are tanking early in the trading session.Japan’s Nikkei is down 1.2%.
Korea’s Kospi is down 1.2%.
Australia’s S&P/ASX is down 0.7%.
For the most part, it looks like Asia is playing catch up to last Friday’s massive sell-off in Europe and the U.S.
The Spanish debt situation has everyone freaking out, and it’s been showing up in Spain’s surging CDS spreads.
U.S. futures are down slightly. Dow futures are off 11 points.
Earnings season kicks into high gear this week with 83 S&P 500 companies announcing Q1 results.
All eyes will be on Citigroup Monday morning. The financial behemoth announces earnings before the U.S. markets open.