European Stocks Slump On German Double Whammy, US Markets “Crossed”- 30 October 2013

ZeroHedgeUS and European stock markets (and European sovereign bond markets) have been sliding since early in the European morning overnight. The blame for the weakness appears to be coming from a double-whammy in Germany. First the German government resolved to push for the financial transaction tax (despite banks rejection of the proposal – well they would wouldn’t they) and then later in the day when Germany’s emerging coalition rejected the last-best-hope for shared sacrifice (or using more of Germany’s balance sheet) – The Debt-Redemption Fund – leaving more pressure back on Draghi to save the day. Anxiety in the US is clear with VIX (and credit spreads) rising as hedgers are active – and of course, markets are broken with NASDAQ options prices ‘crossed’ acording to some sources.

Europe’s markets are falling rapidly…

And the US is unhappy…

What’s wrong with this picture…

www.zerohedge.com / link to original article

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