European markets staggered on their open on Tuesday, following a grim session in Asia.
Flashes via Reuters:
RTRS-SPAIN’S IBEX 35 FALLS 3.6 PCT, PORTUGAL’S PSI 20 DOWN 3.1 PCT AND ITALY’S BENCHMARK DROPS 2.6 PCT
RTRS-EUROPE’S FTSEUROFIRST 300 FALLS 2.3 PCT TO 951.13 POINTS IN EARLY TRADE
RTRS-GERMANY’S DAX DOWN 2.6 PCT
RTRS-STOXX EUROPE 600 BANKS INDEX DOWN 2.9 PCT, BANCO SANTANDER DOWN 4.3 PCT, SOCIETE GENERALE DOWN 4.5 PCT, UNICREDIT DOWN 5.2 PCT
Britain’s FTSE 100 was down 2.5 per cent at pixel time.
Meanwhile, the Drachmark stayed in the doldrums against the dollar:
European sovereign debt concerns continued to rattle equities investors, amid news of more trouble in Spain’s savings banks.
Of course, this all comes off a dire day in Asia. Flashes, via Reuters:
RTRS-NIKKEI MARKS A SIX-MONTH CLOSING LOW
RTRS-HK’S HANG SENG INDEX DOWN 3 PERCENT
RTRS-SHANGHAI STOCK INDEX ENDS DOWN PROVISIONAL 1.8 PCT ON FEARS OF MORE PROPERTY SECTOR MEASURES
Oh, and sabre-rattling in North Korea. Tin hat time all round, then.
Related link:
Volatility metrics still point to high fear factor - FT