European stocks open sharply lower;
European stocks opened sharply lower and the dollar tumbled Monday amid further concerns about the credit crisis following the decision by the Federal Reserve to cut its discount rate overnight and the move by JP Morgan to acquire its troubled peer Bear Stearns.
The major European averages are likely to open lower Tuesday, ahead of the release of some important economic reports, with the German DAX, France's CAC 40 10 Euro and UK's FTSE 100 futures all trading below the flat mark.