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Europe Markets Open Down 3%, Could Move To U.S.

Major markets in Europe opened down 3% and then recovered slightly.

Just after the open, the FTSE 100 was off 2.2% to 6,053

The French CAC 40 was down 2.4% to 4,522

The German DAX was down 2.4% to 9,885

Worries about a down draft in the Chinese economy continue. As the second largest nation in the world, its weakness would hit the balance of the world–particularly nations with large trade partnerships with the People’s Republic.

Concerns continue about the recovery in much of Europe. The largest economy in the region, which is Germany has recovered well. France, the second largest, has not. Smaller nations which include Greece and Spain are still in trouble.

Japan, the third largest nation in the world in GDP has an economy has remained stagnant for years.

While much of the word will benefit from low oil prices, they will severely damage economies in Russia, the Middle East, and South America.

The worry now is whether to sell off will extend to the U.S. again

By Douglas A. McIntyre