A bounce into the close, but Europe finishes sharply lower

|By:, SA News Editor

Down more than 2% at the session low, the Stoxx 50 (FEZ) closed with a loss of 1.6%. Spain and Italy were each off about 2%, while Germany (EWGlost 1.5%, France (EWQ1.3%, and the U.K. 0.7%. Portugal's PSI 20 Index dove 4.2%, led by Banco Espirito Santo's 17.2% loss (it was halted from trade before the market close).

Previously: European banks tumble on Portugal trouble

ETFs: VGK, FEZ, IEV, HEDJ, EPV, EZU, FEU, FEP, UPV, ADRU, FEEU, EURL, EURZ, DBEU, IEUR, FIEU

With Europe closed, the U.S. is in rally mode, with an early 1% loss in the major averages now whittled down to a negligible amount.

ETFs: VV, SCHX, FEX, JKD, EQL, EEH, IWL, ERW, FWDD, SYE