WOW: Europe Is Really Getting Slammed Today

Europe is really getting slammed today, with bond yields jumping for France, Spain, and Italy.

Markets are negative across the board, with the DAX and the CAC 40 already down over 2% and the Italian FTSE MIB off over 2.5%. Asian markets are down and U.S. futures are also in the red, indicating a negative open.

Perhaps even more frightening, however, is the fact that Italian 10-year bond yields just shot past 7%, the number that frightened investors last week. Yields on Austrian 10-year bonds are also up over 5%, hitting their highest levels since July.

Check out that spike in Italian 10-year yields:

 

Photo: Bloomberg

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.