More weakness in the market: U.S. stocks are trading just off their lows of the day.
Right now, the S&P 500 is at 1617, down 0.6%. The Dow Jones Industrial Average is trading around 15,050, down 0.5%.
European markets closed in the red almost across the board, with Italy down 1.6%. Spain is a notable exception – its stock market rose 0.4% today.
The yield on the 10-year U.S. Treasury is down 1 basis point to 2.17%.
Meanwhile, gold is catching a bid this morning, trading at $1390 an ounce, up 1.0%. And after a number of sharp ups and downs this morning, WTI crude oil is headed lower, trading around $95.93 a barrel, up 0.6% on the day.
The U.S. dollar is trading at ¥95.36 against the Japanese yen (down 0.7%) after hitting a low of ¥95.13. (If you're still not following the dollar-yen exchange rate, you should – it's arguably become one of the most important indicators in global financial markets.)
The unwind in the short-yen trade finally seems to be catching up to Nikkei futures, which just took a dive as well (chart below).
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