Markets in Europe were sharply lower at 6.20 AM.

The FTSE fell 1.2% to 6,448. BHP Billiton (BHP) was down 3.8% to 1765. Northern Rock was up 2.3% to 191.2.

The DAXX was off 1.3% to 7,782. Daimler was down 3.5% to 71.35. Siemens (SI) was down 2.2% to 89.31.

The CAC 40 was down 1.8% to 5,640. BNP Paribas was down 2.3% to 73.91. Societe Generale was down 3% to 113.19.

Data from Reuters.

Douglas A. McIntyre