Major indices are sharply lower in Europe

The European indices are all ending sharply lower.  The declines erased gains from yesterday.

A look at the provisional closes shows

  • German DAX -1.6%, Yesterday the index rose +1.8%. 
  • France's CAC fell -1.1%, Yesterday the index rose +1.2%. 
  • UK's FTSE 100 fell -1.2%, Yesterday the index rose +0.3%. 
  • Spain's Ibex fell -1.5%, Yesterday the index rose +0.8%. 
  • Italy's FTSE MIB -1.5%, yesterday the index rose +1.1%. 

In the European debt market, the benchmark 10 year yields are mixed but little changed:

In other markets as London/European traders look to exit:
  • Spot gold is trading down $2.70 or -0.15% at $1848.10. 
  • Spot silver is trading down $0.19 or -0.75% at $25.27. 
  • WTI crude oil futures are trading up $0.58 01.1 percent $53.19.
  • Bitcoin is trading down $1400 or -4.38% at $30625. The high price reached $32960.37 while the low price dipped below the 30,000 level to $29,156.

The US stock market is lower but off the lowest levels of the day (and off the highest too).

  • S&P index -58 points or -1.51% at 3790.71. The low price took the index down -2.14%
  • The NASDAQ index is down -188 points or -1.39% at 13436.61 The low price took the index down -2.33%
  • The Dow is down -350 points or -1.13% at 30585. The low price took the index down -1.89%.

After the close Apple, Tesla, Facebook, Service Now, Whirlpool, Lam research will all release their earnings. Earlier today Boeing, AT&T, Abbott, Corning announced with mixed results.

In the forex, the USD remains the strongest of the majors, but off the highs for the day. The AUD and NZD remain the weakest.

The US dollar is the strongest

In the US debt market, the yields are lower but off there lowest levels as well. The 10 year yield dipped below the 1.0% level to 0.999%, but is back up to 1.011%. The US treasury will refrain from their auction schedule today as a result of the FOMC decision at 2 PM ET. They will continue with the 7 year auction tomorrow at 1 PM ET.

US yields are lower

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