European stocks plunge on far-right election fallout

The major European indices including sharply lower. Both France and German indices are closing near 2% lower as investor continue to be spooked by the fallout from far-right gains in last weekend’s EU elections.

The final numbers are showing:

• German DAX, -1.97%
• France CAC, -1.99%
• UK FTSE 100 100, -0.63%
• Spain’s Ibex, -1.59%
• Italy’s FTSE MIB, -2.18%

As the London/European traders look toward the exit, the US indices are mixed:

• Dow Industrial Average averages lower by 222 points or -0.57% at 38490
• S&P index is unchanged that 5421
• NASDAQ and is up 54.17 points or 0.31% at 17662

The small-cap growth in 2000 is the worst performer with a decline of -1.25%.

In the US debt market, yields are lower after lower-than-expected PPI and weaker claims data:

• two year yield 4.690%, -5.9 basis points
• 5-year yield 4.244%, -5.8 basis points
• 10 year yield 4.253%, -4.4 basis points
• 30-year yield 4.423% -2.7 basis points.

The U.S. Treasury will auction 30 year bond at 1 PM.

Crude oil is trading down around $0.50 at $78.02.

Gold and silver are sharply lower:

• Gold, $-23.50 or -1.02% at $2384
• Silver $-0.92 or -3.12% at $28.75

Bitcoin is trading down on the day at $66,493. Ethereum is also lower by $114 at $3440.30.

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