The EU debt crisis and the ongoing slowing of China’s growth are again back at center stage. Asian markets sharply lower on China’s growth concern; European bourses following, with US futures completing the opening negative trend.
De Spiegel is reporting that Berlin, IMF To Refuse Fresh Aid for Greece:
“Germany and other important international creditors are not prepared to extend further loans to Greece beyond what has already been agreed, German newspaper Süddeutsche Zeitung reported on Monday. In addition, SPIEGEL has learned that the International Monetary Fund (IMF) too has signaled it won’t take part in any additional financing for Greece. “
The overall reaction has been swift and negative: Asian markets are down ~2%; European stocks are much lower — Greek stocks down almost 7%; Spanish IBEX down 5.3%; Borsa Italiana is lower by 4.86%.
Commodities are off — Crude and copper are off -1% while gold is off -.6%.