CAC 40 still leading the way lower for European stocks

Well, it seems the higher US yields have certainly taken the froth off the US stock markets in the first hour of live trading. However, it must also be stressed here; that conditions are pretty thin and the price action sporadic. The VIX (volatility index remains pretty elevated for that reason) and so we can expect more elastic price action in US stocks ahead of the weekend. What is clear though; is the European markets are certainly turning tail now and once again it is the CAC 40 that is leading all three major indexes further into the red right now. The CAC 40 has now fallen well below the 7,300 and below 7,275 a moment ago. The DAX and the FTSE 100 are now in the red too. The CAC 40 seems to have tripped stops below the noted prior low, around 7,285 and that means it might now extend a bit more on the downside. We shall see how this plays out into the close. The CAC 40 is right now at 7,280