Led by Italy and France (with Portugal and Greece relatively outperforming), European stocks extended yesterday's losses with the worst day in broad equities in over 10 weeks. EUR's weakness from yesterday was entirely dismissed as EURUSD surged back from the open in Europe this morning back up to 1.3600. EURJPY's swings are the big driver of equity weakness around the world but sovereign bonds remains relatively flat. Europe's VIX topped 17% for the first time in 3 weeks with its biggest jump in 2 months.
Deja Deja Deja Vu in US Stocks
sends European stocks back to 6-week lows
[6]
with only Greece outperforming on the week...
As Italian stocks drop notably...
[7]
[8]