Europe continues the red sea trend

  • Eurostoxx -1.0%
  • DAX -0.6%
  • UK FTSE -0.9%
  • CAC 40 -1.0%
  • IBEX -1.4%
  • Italy MIB -1.7%

It's a heavy, heavy day for equity bulls as stocks in Europe continue the trend of declines as seen in Asian trading earlier. At one point in trading just now, all 50 members of the Eurostoxx 50 were trading negative on the day.

Pretty much all sectors are down and on days like this, it's either they all turn together later in the day or it's only going to keep bleeding until the closing bell rings. Given the lack of headlines so far, the latter looks more likely to play out today.

US 10-year yields have also fallen to 2.825% now - down 3.5 bps as German 10-year yields touch a five-weak low under 0.30%. The hints of risk aversion is what is helping to propel the dollar and yen higher on the day.