European stocks have taken it on the chin. This year going into Thursday, iShares Europe (IEV) was up a scant 0.39% vs. 9.70% for SPDR S&P 500 (SPY). In the past three months, IEV plunged 4.77% while SPY rose 3.53%. European stock mutual funds tracked by Morningstar were down 2.05%. So should shareholders avoid the region because it’s as risky as a falling knife?