Investors in Europe are bolting for the exits. Even as global markets shook in recent weeks, European stocks were hit far harder. The $11 billion Vanguard FTSE Europe (VGK), the largest ETF tracking European equities, tumbled 9% in the past month vs. SPDR S&P 500’s (SPY) 6% loss. Fears swirl around German industrial output. France and Italy face budgetary woes. Greece teeters on political instability.