Market Update
Stocks in Europe opened sharply lower early Monday, as sovereign debt concerns escalated again, especially in Greece. Financial stocks were the hardest hit.
At the time of writing, Britain's FTSE was down 1.1%, France's CAC erased 2.4% while Germany's DAX fell 2.2%.
In bank stocks, Barclays, Lloyds Banking Group, Royal Bank of Scotland and Societe Generale dropped between 4.5% and 6.2%.
Miners BHP Billiton, Rio Tinto, Xstrata and Anglo American declined 2.2% to 2.7%.
The euro was trading sharply lower against peers amid reports last evening that officials of the Greece government were holding an emergency meeting in a bid to secure further financial aid from the Euro-zone.
Shares in Michelin were off 4% following a broker downgrade.