India Is Getting Clobbered Again

The week begins in fairly quiet fashion, but there is some notable market action.

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.