Overnight, Asia was down almost 1%. Europe is now down almost 2%. At 5AM, futures indicate the Dow will lose about 130 points at the 9:30AM open. It could be a long day.
Meanwhile, back at home, America keeps lumbering along, growing slowly, producing some jobs, but burdened with political impotence, not political instability. We actually look pretty good, relatively speaking.
Important economic data from China, the world’s growth engine, will come out on Wednesday and Thursday, which will give us something non-European to fixate on. We need the Chinese to do well, to save the world from Greece and Italy and Spain and Portugal and . . . ?