European markets plunge

European markets plunge
Tuesday, November 1, 2011 - 9:00am

European markets plunged dramatically tuesday on news that Greece's Prime Minister was going to put his country's hotly contested bailout up to a popular vote. Markets across Europe recorded huge losses early in the day, Germany's Dax, the region's largest stock exchange, was down more than five and a quarter percent in morning trading.

Italy, who is in the middle of trying to cut its debt like Greece, plunged the most on the news, free falling more than six percent before lunch time. Further rattling investor's confidence, a new report out monday that shows Chinese factory activity slowed to a near three year low last month.

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