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Europe closes at lowest since mid-Febraury

Jun. 27, 2016 12:19 PM ETEWG, EWQ, EWU, EUFNBy: Stephen Alpher, SA News Editor2 Comments
  • An attempt at an early rally failed badly and Europe ended closing pretty near session lows, with the Stoxx 50 down 2.9%. Germany (NYSEARCA:EWGfell 3%, as did France (NYSEARCA:EWQ). Italy dropped 3.8% and Spain 1.5%. The U.K. (NYSEARCA:EWUdeclined another 2.6%.
  • Banks were hit hardest, with the iShares MSCO Europe Financials ETF (NASDAQ:EUFNdown 6.5%. The European banking index is down to its weakest in nearly five years.
  • The pound is down 3.6% to $1.3171, its lowest level vs. the dollar in more than 30 years.

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