In any case, European stocks seemed to be helped by the move.
European stocks fell, pulled down by technology shares that had been leading the market higher.
European stocks, which had been sliding, generally turned around about the same time.
"The volume is really being driven by trading in European stocks," he said.
The temptation of European stocks comes from their moderate prices.
While production ended in 2005, European stock lasted until 2007.
That leaves the European stock and bond markets as investment possibilities.
In some ways, the fundamental outlook for many European stocks remains strong.
The gains in European stocks were led by telecommunications companies.
And there's not a one of them who doesn't look like Northern European stock.