European Markets Sharply Lower

European markets are now closed. Stock markets across Europe were sharply lower today. The U.K. FTSE sank 1.3%. The German DAX fell 1.0%. The French CAC tumbled 1.7%. The Spanish IBEX shed 1.3%. The Portuguese PSI lost 0.9%. The dollar rose against the euro today after news broke that borrowing by Portuguese banks from the European Central Bank doubled in May to a record $48.03 billion. The euro is currently trading at 1.2222.