As I'm writing this an hour after Tuesday's U.S. market open, the European markets are down hard, as shown below...in particular Spain and Italy. As I mentioned in my post of March 9th, Europe is clearly on the defensive...it's difficult to grow a robust and healthy economy under these conditions.
Additionally, the European Financials ETF (EUFN) has been declining sharply on confirming bearish MACD, Stochastics and RSI signals, as shown on the Daily chart below. So far, the effects of the ECB's LTRO2 have not been positive on the financials sector or on the EUR/USD as shown on the Daily chart below.
UPDATE: Here's how European markets closed: