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...
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as European bonds and stocks by nation have been battered...
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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.
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Charts: Bloomberg