Major indices down over 7%
The European stock markets are now close for the day and the nightmare is over. The major indices all closed over 7% lower. For the year the declines are near the -20% level. Ouch.
The provisional closes for the major indices are showing:
- German DAX, -7.4%
- France's CAC, -7.9%
- UK's FTSE 100, -7.3%
- Spain's Ibex, -8.1%
- Italy's FTSE MIB, -11.1%
For the trading year, the provisional changes are showing
- German DAX, -19.8%
- France's CAC, -20.67%
- UK's FTSE 100, -20.3%
- Spain's Ibex, -18.9%
- Italy's FTSE MIB, -20.3%
In other markets as London/European traders look to exit:
- spot gold is down $6.20 or -0.37% at $1667
- WTI crude oil futures are down $8 or -19.43% at $33.26
In the US stock market:
- S&P index is down -169 points or -5.7% the 2802
- NASDAQ index is down -425 points or 4.98% at 8148
- Dow is down -1600 points or -6.2% at 24263
In the US debt market yields remain sharply lower.
