CAC moved down about 2% at the lows. Dax down about 1.5%
The European major stock indices are not looking that hot today with the France CAC down about -2% and the German Dax down about -1.5%. The UK FTSE is one of the best performers at +0.50%
German inflation was higher than expected at 1.6% (vs 1.4% estimate). That has yields higher in the Europe as well with the German 10 year up 6.2 bp, France's yield up 7 bp and Italian's yield up 10.7 bp. The higher yields may be helping to depress stock prices.
The EURUSD is trading at the highest level in over a year and may make the export market more difficult for European companies.
In the US stock market, the major indices are also all lower now with the S&P down -0.34%, the Dow down 0.16% and the Nasdaq leading the way lower at -0.93%.
The whiff of inflation from Germany may make the central bankers more willing to take away the QE punch bowl.