In case you missed it ... France officially joined the laundry list of crashing equity market casualties this morning.
Some brief analysis from Hedgeye CEO Keith McCullough in a note sent to subscribers earlier this morning:
"European stocks had their bear market bounce last wk (EuroStoxx600 +3.2% on the wk), but have given back a large % of those gains already this week and mostly remain in crash mode, with France’s CAC40 re-entering that risk zone at -1.7% this am (-20.5% from the 2015 Global Equity #Bubble high); Spain -2% to -32% from its 2015 cycle high."
To be clear, we don't believe the worst is over. Not only in France, but across Europe.