Look Out Below, -5% European Version

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World indices taking a beating, with Germany off 5% and the rest of Europe down nearly as much.

In the states, thing look only marginally better — down 2% to start. Add that to Friday’s whackage, and we are at Euro levels.

Bloomberg: U.S. Index Futures Plunge, Signaling Decline on European Banking Concerns

WSJ: Europe Signals Global Gloom

NYT: European Bankers Urge Leaders to Move Quickly on Debt Crisis

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