UPDATED (1:44 p.m.)
Markets in the U.S. continue to trend lower after a disappointing initial jobless claims report, with the Dow off 190 points.
Indices across the U.S. are selling off, with the S&P 500 and Nasdaq both down more than 1.5 per cent.
The euro is sliding in afternoon trade as well, down more than a penny to $1.2558.
A report from Oliver Wyman showing Spanish banks would need as much as €62 billion under black-sky scenarios added to weakness in the euro.
Below, the currency’s movement today.