Last year, eyes were on Austria because of weakness in Eastern Europe, since the Austrian banks have the greatest exposure to this region. An economic recovery and debt problems in Western Europe overshadowed the problems in the east, but now it is back on the front burner.
Market Vectors Poland (PLND) -7.2%
A common theme for the losers today is having a currency that is weak against the U.S. dollar. The situation in Hungary has hit Poland the hardest and the zloty is down about 3%. Poland may develop into a value play because its economy is strong, but its currency is going to suffer through the financial mess to its west and south.
Returns as of 2:25 PM-- Written by Don Dion in Williamstown, Mass.