European Markets Plunge Most In 20 Months

Tyler Durden's picture

Europe plays catch down to credit and the Bernanke/China double whammy. The broad Bloomberg Europe 500 equity index tumbled over 3% today - its worst day since November 2011 and fell below its 200DMA for the first time in 11 months. Europe's Dow (EuroStoxx 50) fell a stunning 3.7% - its worst since October 11 - smashing thorugh its 200DMA and notably red year-to-date. Sovereigns widened dramatically with Italy and Spain spreads +20bps or so. The EUR is having its worst 2-day run against the USD in 3 months. Europe's VIX closes at its highest in 4 months. Europe's high-yield credit market saw its worst day in 19 months and is back notably above its 200DMA. Not pretty overall.

Worst day broadly in 20 months for EU stocks...

 

as European bonds and stocks by nation have been battered...

 

Europe's credit market is getting hammered too - with XOver (high yield) back above its 200DMA and its biggest (ex-roll) move since Nov 2011.

 

Charts: Bloomberg