Stocks are beginning the week lower after hitting long-term highs on Friday and as risks surface in Europe.
S&P 500 futures are down by about one-third of a percentage point, with the losses accelerating in the last hour. Traders are taking their cues from Europe, where German and French indexes have fallen more than half a percentage point.
The big headlines come from Spain, where Prime Minister Mariano Rajoy and other People’s Party members have been accused of accepting improper payments from a government fund. A poll also shows weakening popular support for his leadership. Spanish bond yields are climbing as a result, while the country’s stocks are down by almost 2 percent. Italy is under pressure, as well.
— Option Monster