MILAN — European markets fell Tuesday as investors worried whether Greece, after an indecisive election, could form a new government to save it from financial disaster. After Greek conservatives failed to form a government, the baton passed to the Radical Left Coalition leader Alexis Tsipras.
Yesterday afternoon's "recovery" has come and gone, because just like that, in a matter of minutes, stuff just broke once again courtsy of a USDJPY which has been a one way liquidation street since hitting 106.30 just before Europe open to 105.6 as of this writing:
Following in the wake of Greece's Syriza, another far-left party has taken a polling lead in Europe. This time, it is Spain's Podemos, a party founded in March this year, with a distinct and radical platform that could overturn Europe's political and economic course.
European stock markets edged ahead on Friday on upbeat US data but sentiment remained fragile as investors worried that Greece could be heading for a potentially disastrous default.In late morning deals, London's FTSE 100 gained 0.31 percent to 5,903.55 points, the Paris CAC 40 added 0.94 percent to 3,425.06 points and Frankfurt's DAX 30 won 0.85 percent to 6,809.26 points."Equities have been range bound this week as the Greece saga drags on," said Spreadex trader Jordan Lambert.
World markets tumbled Tuesday as investors worried that Europe's debt crisis would spread despite a $143 billion bailout package for Greece. The Dow Jones industrial average plunged more than 200 points while the broader Standard & Poor's 500 index fell more than 2 percent.» E-Mail This » Add to Del.icio.us