European Markets Sharply Lower

European markets are now closed. Stock markets across Europe performed as follows: The U.K. FTSE shed 2.3%. The German DAX fell 1.8%. The French CAC tumbled 3.0%. The Spanish IBEX lost 0.9%. The Portuguese PSI dropped 0.7%. The euro is higher by 1.68% against the dollar to 1.2438 on concerns that growth in the U.S. may be fading. Weak reports on U.S. manufacturing, claims for jobless benefits, and pending home sales caused investors to question the U.S. economic recovery.