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Flash: Europe Markets Sharp Drop, BNP freezes $2.2 billion in funds

Posted Aug 9th 2007 6:10AM by Douglas McIntyreDouglas McIntyre RSS Feed


Key markets including the German DAXX and French CAC 40 are off well over 1%.

Financial shares dropped more sharply, with Barclays (NYSE:BCS) down over 3% and Commerzbank down over 4%.

France's largest piblic bank BNP Paribas said that froze $2.2 billion worth of funds on Thursday, citing U.S. subprime mortgage sector problems, according to Reuters.

Douglas A. McIntyre is a partner at 24/7 Wall St.

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