businessinsider.com — European markets took a big hit today, obliterating any hope generated by yesterday's rally. Contagion is back, baby! FTSE 100: -1.12% CAC 40: -2.53% DAX: -2.37% FTSE MIB: -3.31% IBEX 35: -3.52% Italy and Spain led the downward trend, with the latter index briefly down over 4 percent.