Mid Morning Update

U.S. equities slid right from the open. The trough was not as bad as yesterday and we are beginning to pare our losses. For all intensive purposes the markets appear to have a bid under them as opposed to just out right buyers coming in.

Telecom and industrials are leading the downside in the U.S.

European markets did not seem to pare any losses. Brussels got hammered the most, Spain and Italy are in second place down 3+%, while Amsterdam, Russia, and the U.K. tie for third place being down 0.7-0.8%,

Market update