Asian markets are down, picking the cues from the European and US indices.Australian S&P/ASX 200 hits a new 2 week lows.Nikkei hits April 2009 lows.
In Europe, SPanish treasury issued bonds at a higher rate since 1997 and Spain goes into election this Sunday.I expect huge volatility in the financial markets ahead of this.
And there are no EFSF plans for aid to Italy.
I don't advise to short at these levels (Nifty spot-4838 while am writing this). Though lot of technical analysts are expecting a bounce back, I advise you not to carry any longs over the weekend.
European indices are poised for a weak open considering the Futures data.
Have a nice weekend.
