Monday, May 7, 2012
Europe Opens Down 2% As Sovereign Risk Surges
Germany's DAX is the hardest hit so far of the major European equity markets (futures) with a drop of over 2.2% (underperforming the French CAC40 -1.5% for now). The EuroSTOXX 50 is down 2% and reflects the general state of affairs in European equity markets as they open - which is a little worse than the S&P futures market's move since the European close on Friday. European credit markets are very quiet and illiquid thanks to the UK's May-Day celebrations (and its position as hub for
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