European sector ETFs dropped following reports of poor economic data and bank downgrades, ETF Trends reports. The Stoxx Europe 600 index fell 4.6 percent on September 22, but had regained some ground the next day.

It was the biggest loss since March 2009 when the index lost 5.3 percent. The Vanguard European ETF, tracking companies from major markets in Europe, fell 4.2 percent on September 22.

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