India Is Getting Clobbered Again

First of all, Europe (which has seen some of the strongest markets in the world) is on the decline. Italian stocks are off 0.75%. Germany is down 0.67%. And France is off 0.56%.

The big loser in world markets is India, which is off over 2%, which is its second huge down day in a row.

On Friday, the market fell 4%, with bank stocks particularly hard hit.

The rupee continues to act incredibly weak.

Also a big notable emerging markets loser: Indonedian stocks fell 4% today.

This is probably going to be a very quiet week. For the final two weeks of August, trading volumes tend to be very light, and the calendar of upcoming events is also limited.