Markets opened lower amid speculation of fines for breach of budget limits in Spain.

March 5th, 2012
in Gary's blogging

9:51     Markets opened down under light volume. The DOW is at 12947 and the SP500 is at 1365. Several small cap trends have broken down through a sideways channel and that could signal more depression to come. $RUT is down to 800 off 0.28%.

As reported at SA.

@SA "AM At the open: Dow -0.13% to 12961. S&P -0.2% to 1367. Nasdaq -0.20% to 2970.
Treasurys: 30-year -0.13%. 10-yr -0.08%. 5-yr -0.07%.
Commodities: Crude +0.33% to $107.06. Gold -0.15% to $1707.15.
Currencies: Euro +0.2% vs. dollar. Yen -0.38%. Pound -0.22%."
Spain is the next domino after Greece.  But first let's see Greece default.

@telegraph: "Spain risks being fined under new EU rules for a "grave" breach of budget limits, the European Commission warned on Monday, despite Jose Manuel Barroso stating that he was confident it would fulfill its commitments."

"Greek default looms as voluntary debt deal looks set to fail"

Written by Gary

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