PRE-MARKET SELLOFF GETTING WORSE: Germany Getting Crushed, Dow Futures Off Over 100

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ORIGINAL POST: The yo-yo (or see-saw, or roller-coaster) continues.

Yesterday saw a huge initial surge, a big mid-day collapse, and then a big turnaround.

And now markets are sliding again.

US futures are pointing down about 0.5%.

European markets aren't moving particularly dramatically, but are down.

Commodities are actually up a little, with copper having stopped Wednesday's bleeding.

Today should be particularly interesting. It's the last day of the quarter, and since it was so violent there could be a lot of last-minute moves/window-dressing, etc. as managers look to pretty up their portfolios before sending out statements to clients. Stay tuned.

UPDATE: The market selloff is getting worse on this last day of the quarter. Dow futures are off over 100. Europe is really not looking so hot. Germany is off over 2.5% right now.

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Early Morning Selloff Gets Worse: Major Bank Stocks Getting Routed

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We mentioned this morning, that European markets were moving to the downside in early going.

Things have accelerated a bit since then.

Italy is now down about 2%.

Germany is down about 1.5%.

And US futures, which had been higher -- as investors held out (it seemed) some hope that the Obama jobs bill could get turned into reality -- have now gone negative.

The big losers are French banks. SocGen is off 7.3%. Natixis is off 4.33%.

As for the story: There's a ton of moving parts moving in Europe right now. The FT reports on ongoing strains in the bank funding market. There's a big G7 Weekend coming up, as well as the imminent Greek endgame. Finally, Lagarde is out with (yet) another speech calling on recapitaliszations of European banks.

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