Markets in Europe and Asia sold off sharply.

The Nikkei fell 2% to 12,755. Toyota (NYSE: TM) was off 2.5% to 4680 yen.

The Hang Seng sold off 3.9% to 21,157. China Life (NYSE: LFC) dropped 6.1% to 26.75 yuan. The Shanghai Composite was down 3.4% to 2,779.

In London, the FTSE dropped 1.4% to 5,225. Barclays (NYSE: BCS) was down 3.7% to 259.75 pence. In Germany, the DAXX was off 1.8% to 6,086.

Data from Reuters.

Douglas A. McIntyre is an editor at 24/7 Wall St.