Photo: Google Finance

Markets are selling off early in the trading session.The Dow is down 101 points.

The S&P is down 11 points.

The Nasdaq is down 36 points.

Among the biggest losers today are the financial.  Wells Fargo and JP Morgan are both off by around 2 per cent, despite announcing better than expected earnings.

Europe is doing much worse.

Spain’s IBEX is off 4 per cent.

Italy’s FTSE/MIB is off 3.5 per cent.

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