European indices close lower for the day and lower for the week

The major European indices are closing lower for the day lower for the week:

• German DAX -222.86 points or -0.90% at 22455.89. For the week the index felt -1.90%.
• France’s CAC -74.03 points or -0.93% at 7916.09. For the week the index fell -1.58%.
• UK’s FTSE 100 fell -7.27 points or -0.08% at 8658.86. For the week the index was near unchanged (up 0.14%)
• Spain’s Ibex L -113.30 points or -0.84% at 13309.29. For the week the index fell -0.31%.
• Italy’s FTSE MIB fell -359.56 points or -0.92% at 38739.29. For the week the index fell -0.76%.

Looking at the US stock market as London/European traders look to exit, major indices are trading near session lows and are down for the week:

• Dow -627 points or -1.48%. For the week the index is down -0.74%.
• S&P index -100 points or -1.76%. For the week the index is down -1.31%
• NASDAQ index -430 points or -2.42%. For the week, the index is down -2.32%

Looking at the benchmark 10 year yields:

• German 10 year yield fell -2 point basis points to 2.73%.
• France’s 10 year yield fell -1.7 basis points to 3.437%
• UK 10 year yield fell -0.8 basis points to 4.708%
• Spains 10 year yield fell -5.1 basis points to 3.363%.
• Italy’s 10 year yield rose 1.1 basis point to 3.85%

For comparison, the US 10 year yield is up 1.7 basis points this week despite the sharp -9.4 basis point decline today to 4.267%

This article was written by Greg Michalowski at www.forexlive.com.