But but but… the crisis is over and Europe is recovering? European stocks dropped 3.2% in the last 2 days – the most in 7 months – taking the broad index into the red for 2014. Portugal (remember how BES was contained) collapsed 10.3% this week (down 26% from its highs in April) to one-year lows. Europe’s VIX spiked over 20 today – its highest in over 4 months.
European stocks are red for 2014
Portugal led the decline…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1rRVP5E Tyler Durden