Stock Markets in Europe Dive Before EU leaders' Summit
European Stocks exchanges dropped to the bottom today and the euro weakened against the dollar as the finance guru George Soros says that a failure to provide effective measures at the summit this week would be the end of the Euro currency.
Here is what happened to the major exchanges in Europe:
England's FTSE 100 limits the loss with -1.2%. France's CAC 40 dropped 2.2%. Germany's DAX down 2.0% Spain's IBEX dropped 3.2%. Italy's FTSE MIB dived -3.8%.
Greece's ASE dropped -4.2%
Markets in Spain and Italy were out of control today, and dropped significantly after Cyprus government debt rating was lower to Junk statuts by Fitch. Bank Stocks were sold heavily, Societe Generale, BNP Paribas and Unicredit Spa, fell by 5%