Eurozone issues stole the show on Monday… again. An austerity deal in the Netherlands hit a stalemate, meaning the country could lose its AAA rating. In France election results weren't kind to Sarkozy and it's uncertain, especially with the strong right wing showing, how the final vote on May 6th will work out. If Sarkozy loses and the socialist Hollande wins then the financial alliance for the EU between France and Germany could be undone. To make matters worse Monday, the eurozone reported the important PMI (Purchasers Managers Index) at weak 47.4 vs expectations of 49.3 and prior 49.1. China also reported another weak manufacturing survey also at 49.1. Toss-in recent U.S. data and the three important regions in the world are experiencing clear economic contraction.