Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Bear Attack Hits All Markets

|Includes:Deutsche Bank AG (DB), FXE, FXP, IFN, IRE

The markets around the globe are dropping like a rock this morning. The problems in Europe and the European Union are once again emerging. Asian markets were slaughtered in overnight trading. This morning the economic data in the United States was worst than expected with the weekly initial jobless claims number coming in at 408,000. When you put all of this together you get a decline of 27.50 points on the S&P 500 Index e-mini futures (ES U1) to 1162.50 per contract. This is a very ugly start to the day for the bulls.

Stocks: DB, FXP, IRE, IFN, FXE