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Between 4 percent and 6 percent and today was less with ftse down .7 percent and cac down 1.9 percent, and the daxs with down 1.8 percent. but, still, the banking shares, banking stocks are 2 1/2 year lows and there is not much optimism that is going to get better any time soon. on this side of the pond some say europe, and you mention it is a confidence issue, europe is not showing solidarity it should be. the greek bailout is proving to be more difficult to execute than planned with countries demanding collateral, and analysts warn that is unrealistic and holding the european countries back....

of the turmoil on wall street has been triggered by fears over the european debt crisis and the anemic economies. and richard quest, one of the best people to turn to when we want perspective on the global economy. he joins us from london. what happened in the european markets today? >> reporter: the europeans went down initially and then down further and they rallied with wall street. we closed down 1% in london, and paris 1%, and frankfurt, once again the german market is being creamed by what is happening at the moment, by far and away being breutally attacked. and the german indu...

2007. it certainly would say that had that type of information been nope, i doubt that, seriously, she would not have participated in the event here. >> is that a problem for the white house? a lot of unemployed people to choose from. >> when you have ten million unemployed and you cannot find three that are clean, you have a confidence issue. can they shoot straight? that press conference happened, on the day of the shirley sherrod firing. and this is a group that wants to run national health care? run cap and trade? and dispensing $1 trillion of stimulus money as we speak. >> did you notice ...

And his agriculture secretary of doing in this particular case but they did also reverse course rather quickly, too, and put this to bed. i mean, what's interesting is the difficulty is how much more can the administration do to focus on the economy? you'll hear secretary geithner say on sunday as others have that right now it's the private sector's role to really deal with the jobs issue, so the government can assist but the private sector has to lead the way. >> do they feel as if the private sector is voting? >> in a weird way -- >> because i've heard the same thing, basically, what, almost...

Chamber of commerce and their way of encouraging. no, no, no. this is your way of voting. >> there's a couple of things. there's still a confidence issue. you look at the fed chief saying essentially i don't know what it's going to look like here. is it a double dip recession? i don't know. >> that didn't help. larry summers agreed with him. >> right, secretary geithner does not agree with that per se. a lot of ceos don't agree with that either. they don't think there's another dip coming. but you also have the housing market. as long as the housing market is still in the crisis that it's in, ...