European indices markedly lower at the open as the pain continues

• Eurostoxx -7.4%
• Germany DAX -8.8%
• France CAC 40 -6.8%
• UK FTSE -4.9%
• Spain IBEX -6.7%
• Italy FTSE MIB -8.2%

What a rout. With the drop indicated above, the DAX has now entered negative territory for the year. Meanwhile, the CAC 40 has fallen below the 7,000 mark for the first time since November 2023. Banking stocks are also hit hard as yields continue to plunge to kick start the new week. No reprieve.