Spanish borrowing rates spiked Monday above levels that forced other countries to take bailouts. That means bond investors fear that Spain will default on its debts.
Greek voters elected a party that wants to continue a regime of international bailouts that hinge on painful budget cuts. A Greek exit from the euro appears less likely as a result. Avoiding that disastrous outcome failed to comfort traders eager for a more permanent resolution to the crisis.
The Dow is down 50 points at 12,717 in the first ten minutes of trading. The S&P 500 is off five at 1,337. The Nasdaq is down 11 at 2,861.
Post a Comment