NEW YORK (TheStreet) -- With Italian bond yields spiking above 7%, spooking markets around the world and leading to a 300-plus point drop in the Dow Jones Industrial Average on Wednesday, TheStreet searched for European companies trading in U.S. markets that might be safe from an escalating European debt crisis.
As European bank stocks like Barclays (BCS), Deutsche Bank (DB) and HSBC (HBC) fell more than 8% in early trading, clearly some of Europe's largest companies trading in the U.S. aren't resistant to spiking fears about sovereign debt contagion.
Nevertheless, in combing through some fear-resistant sectors and companies with businesses not entirely dependent on Europe, TheStreet has found a few eurozone giants that could weather an escalating crisis.Even as the sovereign debt crisis continues to roil U.S. markets on a daily basis, overall it hasn't caused 2011 to be a big losing year on the Dow or S&P 500 -- it's also caused U.S. Treasury bond yields to fall to record levels below 2% signaling that America is still an investor haven in times of crisis. While beer, cigarettes and drugs are always in vogue regardless of economic conditions, we've also found six bellwether companies with sales mixes that won't sink or stink in a euro crisis. Read on.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV