European traders head for the exits with continued bad vibes about economy/inflation

The European traders are heading for the exits with continued bad vibes as concerns about slower global growth and higher inflation permeate traders psychology (i.e. fear).

Looking at the major indices in Europe, the week has gotten off to a shaky start:

German DAX, -1.54%
France’s CAC, -2.01%
UK’s FTSE 100, -1.88%
Spain’s Ibex, -0.9%
Italy’s FTSE MIB, -1.53%

Looking at the benchmark 10 year yields, they are all lower across the board as flight into the relative safety is a driving catalyst.

The German 10 year yield got close to 1.0% before turning back to the downside. The high yield reached 0.982% which was the highest level since July 15, 2015. The current yield is trading at 0.832% after the sharp reversal to the downside took the yield to is lower 0.821%. Looking at the hourly chart, the price has also moved back below its 100 hour moving average at 0.880%. The 200 hour moving average comes in at 0.778% and would be the next downside target.

In the forex, the JPY is the runaway strongest of the majors, while the AUD and the GBP are the weakest.

In other markets:

Spot gold is down $34.15 or -1.77% at $1895.43
Silver is down $-0.49 or -2.03% at $23.62
WTI crude oil is trading at $96. That’s down $6.00 or -5.9%
The price of bitcoin is trading at $39,336. That is up from a low of $38,202.91 and near it’s high at $39,517.04

In the US stock market , the major indices are all lower. The NASDAQ is outperforming relatively: