We’ve been writing about Europe dragging down the U.S. stock market for more than a year now. We, of course, take no satisfaction in it, but it’s kind of a “man bites dog” story to report that U.S. jobs data moved European markets lower at the end of last week.
Germany was down 1.9%, Spain was down 1.5% and the UK market was flat.
Meanwhile, while bailouts all the rage in Europe and the U.S., debt-laden, over-spending Japan is intent on joining in the fun. Japan’s Finance Minister suggested the government could run out of money as soon as October if a bond bill is not passed. Japanese stocks fell in response.