As London/European traders head for the exits, the major European stock indices are closing mostly lower.
Germany’s DAX was the notable exception, gaining 0.51%, while France, the UK, Spain and Italy all finished modestly in the red
The moves come as European benchmark yields rose sharply across the board, adding some pressure to equities. European closing levels: German DAX: +0.51% at 26,432.87 France CAC 40: -0.16% at 8,636.81 UK FTSE 100: -0.21% at 10,750.12 Spain Ibex: -0.06% at 20,156.61 Italy FTSE MIB: -0.20% at 53,583.60 Europeans yields move higher In the European debt market, benchmark 10-year yields moved sharply higher: Germany: 3.205%, +7.1 basis points France: 4.048%, +9.9 basis points UK: 5.042%, +9.0 basis points Spain: 3.652%, +8.4 basis points Italy: 3.990%, +9.3 basis points US stocks are lower As European traders leave for the day, the major U.S. indices are mostly lower after earlier gains faded. The S&P and Nasdaq are pulling back after the S&P reached another record level this week.
Dow Industrial Average: -0.27% at 53,700.36 S&P 500: -0.20% at 7,783.06 Nasdaq Composite: -0.44% at 26,684.76 Russell 2000: +0.24% at 3,060.04 Nasdaq 100: -0.40% at 29,963.16 US yields are higher after trading lower earlier. U.S. Treasury yields are also moving higher, with the largest increases at the long end of the curve.