Meanwhle, Jeurgen Stark resigned from his post on the ECB as financial problems mount, further augmenting concern that the ECB is unable to come to a consensus on the worsening debt crisis.

  • Vanguard European ETF (NYESArca: VGK) was down 4%
  • iShares S&P Europe 350 Index Fund (NYESArca: IEV) shed 3.7%
  • MSCI Europe Financials Sector Index Fund (NYESArca: EUFN) was down 5.3%

Country-specific ETFs:

  • iShares MSCI France Index Fund (NYESArca: EWQ) was down 4.7%
  • iShares MSCI Germany Index Fund (NYESArca: EWG) was down 5.1%
  • iShares MSCI Italy Index Fund (NYESArca: EWI) was down 6.1%
  • iShares MSCI Spain Index Fund (NYESArca: EWP) was down 5.7%

For more background, visit our Europe category.

Vanguard European ETF

Max Chen contributed to this article.