This is another ugly start to the day.
Remember, yesterday the US took it on the chin. Commodities got crushed and stocks fell nicely on slightly hawkish Fed minutes.
Today: the pain is in Europe.
Flash PMI from across the Eurozone is coming in bad. France was especially bad.
Germany is down 1.8%.
The UK is down 1.5%.
And Italy is getting clobbered.
