Market preview: It's set to be an ugly day, as Italy's bond yields hurtle out of control and...

|By:, SA News Editor
Market preview: It's set to be an ugly day, as Italy's bond yields hurtle out of control and "threaten to detonate the explosive charge on €1.9T of debt." The spread on French and German bonds hits a new record high, while EU shares and U.S. futures tumble; S&P -2.2%. GM -8.7% following earnings and Macy's -3.8%. Later: wholesale trade, Bernanke speaks.