The Pain in Spain Means Pain Everywhere

Spain and Italy continue to be ground zero for global stock market concerns circa summer 2012.  While Greece's problems were all the rage in the spring, investors have moved on to bigger and better not better things.  As shown below, Spain's stock market made a new 2012 low today and is now down 29.55% year to date.  Italy's stock market also made a 2012 low today, and it's down 17.32% year to date.  Greece, on the other hand, made its 2012 low back in June and then bounced significantly.  At the moment, Greece's market is down just 13.45% year to date.