EUROPE STOCKS TAKE A HIT
A modest day for Wall Street seems to be the standard followed by other world markets. On Tuesday, European stocks plunged to two week lows while Japan’s cabinet passed a measure that should revitalize its economy. Consequently, the yen grew stronger. Early morning reports showed crude oil dipping below $40, but more recent data suggests that it is edging back up slowly, with prices still dragged down by the supply glut. European banks performed no better, with Credit Suisse falling 5.6% and Deutsche Bank falling 3.9%, a drop attributed to their removal from the banking index.