Markets in Europe were sharply lower at 6.20 AM New York time.

The FTSE was off .9% to 6,572. Barclays (BCS) was off 1.6% to 727. British Airways (BAB) was down 2% to 447. GlaxoSmithKline (GSK) was up 1.8% to 1303.

The DAXX fell 1.4% to 7,809. DaimlerChrysler (DCX) was off 2.4% to 65.3. DeutscheBank (DB) was down 2.1% to 109.4. SAP (SAP) was up .8% to 36.65.

The CAC 40 was down .8% to 6,028. Peugeot was off 2.4% to 57.45.

Data from Reuters

Douglas A. McIntyre