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Make Money Blog $ - Monexnews - as stock futures showed a massive opportunity selloff on Wall Street today Monday sparked by the European sovereign debt crisis hurt the global stockmarkets.
Tracked the DJIA futures index has dropped -1.74% to a level of10.826, while the S & P futs down -1.81% to as low as 1,137.00, and Nasdaq futures fell -1.48% to as low as 2,136.25 so far.
Though sovereign debt crisis of the European Union on Friday has dragged the DJIA down 300 points on Friday, when the ECB policymakers resignation sparked market concerns over its purchase ofSpanish and Italian bonds.
As if not enough to weaken, the latest news that Germany was preparing a plan to help the Greek banking system in case ofdefault also adds to the weakening stock market.
Another negative is the catalyst Greek CDS rise to the level of all-time high, indicating the market has been discounting 90% chance of default in Greece.
Besides the auction of bonds worth 11.5 billion euros Italy showedweak demand, where the yield on bonds with a tenor of 10-year bond rose 8 basis points to as low as 5:49% so far. While Greek bond yields at 1-year tenor soared to 109.50%, and the tenor of 2 years rose 641 basis points to 63.4%. (Sap)
source:monexnews.com
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Tracked the DJIA futures index has dropped -1.74% to a level of10.826, while the S & P futs down -1.81% to as low as 1,137.00, and Nasdaq futures fell -1.48% to as low as 2,136.25 so far.
Though sovereign debt crisis of the European Union on Friday has dragged the DJIA down 300 points on Friday, when the ECB policymakers resignation sparked market concerns over its purchase ofSpanish and Italian bonds.
As if not enough to weaken, the latest news that Germany was preparing a plan to help the Greek banking system in case ofdefault also adds to the weakening stock market.
Another negative is the catalyst Greek CDS rise to the level of all-time high, indicating the market has been discounting 90% chance of default in Greece.
Besides the auction of bonds worth 11.5 billion euros Italy showedweak demand, where the yield on bonds with a tenor of 10-year bond rose 8 basis points to as low as 5:49% so far. While Greek bond yields at 1-year tenor soared to 109.50%, and the tenor of 2 years rose 641 basis points to 63.4%. (Sap)
source:monexnews.com
please give me comments thanks
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