European shares close lower. German DAX falls after closing at record high on Friday

The German Dax closed at record highs on Monday, Thursday and Friday last week, moving above the high close going back to September 27.

Today, however, the index fell by around 1% leading the way lower for the major European indices.

A snapshot of the Europe closes fo the day are showing:

• German Dax, -1.02%
• France’s CAC, -1.01%
• UK’s FTSE 100, -0.48%
• Spain’s Ibex, -0.71%
• Italy’s FTSE MIB, -0.71%

As London/European traders look for the exits, US indices are also lower:

• Dow industrial average -340 points or -0.78% at 42937.50
• S&P index -30.70 points or -0.52% at 5834.30.
• NASDAQ index -64 points or -0.35% at 18423.13

US yields continue to move higher and trade at the day’s highest levels:

• 2 year yield 4.025%, +7.0 basis points
• 10 year yield 4.173%, +9.9 basis points
• 30 year yield 4.475%, +9.4 basis points

This article was written by Greg Michalowski at www.forexlive.com.