Europe is getting smoked this morning.· Spain is down 1.7%
· Italy is down 1.4%
· Germany is down 1.2%
· Greece is down 4%
· The euro is at a 4-month low.
· Sovereign spreads are wider.
So what's going on?
· People are still freaking out about Cyprus and trying to figure out what it means.
· Contradictory statements continue to get made about whether Cyprus is a template for other countries or not.
· European economic sentiment fell for the first time in several months.
· Italian factory orders came out very bad.
· Italian politician Pier Luigi Bersani says the country is a mess and it's going to be hard for a government to form.
So basically, Europe is being Europe.
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Join the conversation about this story » Reported by Business Insider 16 hours ago.