The Sell-off Is Spreading: Markets Now In Triple-Digit Loss Territory; UBS CIO Warns Of Japanese “Abegeddon” Scenario!!! DOW -200!!! Dow Jones Drops Under 15,000!!!

Markets Around The World Getting Smoked — Dow On The Verge Of Falling Below 15,000

Markets across Europe just closed at their lowest levels of the day.


The London FTSE 100 fell 2.1%, the French CAC 40 fell 1.9%, the German DAX lost 1.2%, the Spanish IBEX 35  retreated 0.9% and the Italian FTSE MIB fell 1.0%.

European markets are now trading at six-week lows.

Meanwhile, in the United States, the Dow Jones Industrial Average is down 1.2% (off 180 points), and is now trading at 14,991.

The S&P 500 is down 1.1%, and the NASDAQ is 1.0% lower. All three are trading at their lowest levels of the day.

The S&P 500 is trading around 1617 this morning, 4.1% off its peak level of 1687 turned in on May 22.

Markets Now In Triple-Digit Loss Territory

After this morning’s economic data releases.

The gold trade is just not working

UBS CIO Warns Of Japanese “Abegeddon” Scenario

Last night’s over-promised and under-delivered ‘third arrow’ from Abe appears to have solidified market opinions about the chances of Abe slaying his deflation-monster nemesis. UBS’ CIO Alex Friedman fears that Japan may face a fearsome stagflation – where accelerating inflation in asset prices is not met by higher growth rates – a scenario he calls “Abegeddon.” In an “Abegeddon” scenario, Friedman said “investors may grow increasingly concerned about the sustainability of Japanese debt levels that could lead to a ‘stampede’ out of government bonds.” With Nikkei 225 futures having faded their European morning bounce and pressuring back towards the 20% ‘bear market’ correction levels once again, it seems the ‘stampede’ is out of growth-expectation-driven equities as JGBs are bid for now. That bid (no matter how hard the BoJ tries) is unlikely to last if the doubt grows as Japan’s debt-to-GDP would rise above 300% (from 226% currently) and the 10Y JGB yield could approach 5%!


zerohedge‏@zerohedge1 min 

Dow Jones Drops Under 15,000

Dow 15,000 hats off.

 DOW -199!!!


Share and Enjoy

  • Facebook
  • Twitter
  • Delicious
  • LinkedIn
  • StumbleUpon
  • Add to favorites
  • Email
  • RSS
  • Bwhhaaa hhaaa hhaaaa

    Japan is the key to the worldwide economic crash that is coming very soon. The Japanese bond market is spiraling out of control, the Nikkei is in a virtual free fall, and the Japanese are sitting on literally hundreds of billions of US debt while monetizing the yen to infinity. What happens in Japan will take down Europe, and a few weeks later, we will be flushed as well. Don’t believe the upbeat hype, when you hear things are looking better in the US, and the dollar valuation holding / rising, because it is all a short term illusion created by foreign investment streaming into the dollar as a last ditch lifeboat, but this will fail in the end. If you aren’t already out of the market, get out now, because the only things that will have any real value soon will be hard assets and commodities.

  • Uncle_Meat

    Are you getting uncomfortable, all you gloabalist paper freaks? LOL!

  • Slvrizgold

    Silver $22. WOW. STRONG BUY

  • rossriver75 .

    So, what happens with the yen? Last time the market had a meltdown, the yen skyrocketed. Why would it be different this time? (In fact, as I write, the yen has already climbed to 97US as the Dow and Nikkei tumble). So, what’s with the theory of a collapsing yen?