European Equities Lower as Spanish Debt Hits 7%

European ETF (NYSE: VGK) is expected to open lower on Thursday as markets in Europe slide. Spanish 10-year treasures yields hit new highs today at 7 percent after Moody's downgraded the country. Italian debt yields were also higher, climbing as high as 6.43 percent. Eurozone annualized CPI was reported inline at 2.4 percent, while core CPI came in at 1.6 percent. The price of the Euro is steady and may trade in a tight range ahead of Greek elections. U.S. CPI is on tap for later today is expected to show a slight decline.

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