Closing changes for the main European bourses:

  • UK FTSE -1.4%
  • German DAX -3.1%
  • French CAC -3.6%
  • Spain IBEX -2.7%
  • Italy MIB -3.0%

There is no place to hide today, except bonds. There will be a closely-watched US 10-year auction at 1 pm ET.