Markets in Europe are down sharply.

The FTSE is off 1.5% to 6,198. Barclays (BCS) is off 2.7% to 580. Northern Rock is down 33% to 294.

The DAXX fell .6% to 7,455. Deutsche Bank (DB) is off 2% to 88.2.

The CAC 40 dropped 1.5% to 5,456. Alcatel-Lucent (ALU) is down 4% to 6.24. BNP Paribas (BNP) is off 3% to 71.46.

Data from Reuters

Douglas A. McIntyre