Markets in Europe were down over 1% at 7 AM New York time.

The FTSE fell 1.5% to 5,880. HSBC (HBC) was off 1.7% to 268.25. London Stock Exchange was down 3.5% to 1510.

The DAXX was off 1.3% to 6,909. Duetsche Bank (DB) was off 1.7% to 74.56. Siemens (SI) was off 1.5% to 88.62.

The CAC 40 traded down. 1.3% to 4,823. Credit Agricole was off 3.7% to 17.19. Alcatel-Lucent (ALU) was off 2% to 4.2.

Data from Reuters

Douglas A. McIntyre