A 3-5% collapse in European bank shares is leading to worldwide pressure on equities. US Futures down 2%.
Also, I am out of the office today traveling East for the day — you know what that means!
Markets in Europe opened down 2.5%. Leading the decliners are Banks and Miners, and nearly all sectors are in the red. US regulators are looking into the local operations of Europe’s largest banks concerning possible funding issues (see WSJ).
More in a moment . . .