Markets in Europe were sharply lower at 7.20 AM Eastern time

The FTSE fell 1.6% to 5,930. BHP Billiton (BHP) was off 4.8% to 1413. Diageo was up 1.7% to 1014.

The DAXX dropped 1.2% to 7,475. Commerzbank was off 3.5% to 22.37. Infineon was down 3.9% to 6.43. SAP (SAP) was up 1.5% to 33.34.

The CAC 40 traded off .9% to 5,204. Air France was down 3.7% to 19.6. France Telecom (FTE) was up 1.2% to 24.79.

Data from Reuters

Douglas A. McIntyre