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.
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