European Markets Fell Sharply on Monday

European shares fell sharply on Monday amid renewed fears over the euro zone debt crisis and a warning from Deutsche Bank’s CEO on the outlook for banks.

German DAX is the worst hit, dropping 5.01% at this moment. UK FTSE dropped the least with 3.21%. French CAC 40 is equally bad, falling 4.39% at this moment.





September 5, being the first Monday in September, is the Labor Day public holiday for the US.

Dow, as shown above, has completed its sub-wave iv. It is currently in its sub-wave v that can end around the 10,000 level with strong support at 9700 level. If wave 1 has only 5 waves, sub-wave v will mark the end of the wave 1 of the major wave C.


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