Economy

xchrom

(108,903 posts)

24. SELLOFF: The Japanese Market Got Clobbered, Europe Is Down, US Futures Are Falling

Wed Apr 4, 2012, 06:20 AM

Apr 2012

http://www.businessinsider.com/morning-markets-april-4-2012-4

he bad times continue.

Markets continue to sell off starting with Japan, where the Nikkei fell 2.3%, the market's worst decline all year.

Europe is looking weak as well. Spain is down 0.9%. Italy is off 0.8%. Germany is off 1.2%.

US futures are down 0.5%.

Yesterday's seemingly hawkish FOMC minutes are perhaps not helping. We've also had a string of Eurozone services PMIs today, which were predictably not very good. Later on today we'll get US services PMI, and of course the ADP jobs report.

UPDATE 4:57: Spain just had a bad 3-year bond auction, which saw a bid-to-cover ratio that was significantly lower than the last equivalent auction in March. That's not helping matters today, as the mood remains negative.

Read more: http://www.businessinsider.com/morning-markets-april-4-2012-4#ixzz1r48ZmUB3

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