The euro is getting slammed on Tuesday after two Wall Street Journal articles resurrected concerns that the region’s financial system could be in worse shape than previously thought.

In a piece titled “Europe’s Bank Stress Tests Minimized Debt Risk”, the Journal argues that the recent stress test of the region’s financial institutions understated the risk of financial intuitions’ holdings of government assets.

Meanwhile, another article titled “German Banks Warn of Costs of Basel III”, says that Germany’s ten largest financial institutions will have to raise as much as €105 billion to satisfy new regulatory standards.

Although both articles don’t contain any new information about the state of the European financial system, traders are attributing this morning’s declines in EUR/USD to the news.

The reports have also sparked a broader bout of risk aversion, with global equity markets selling off, as traders aggressively bough safer U.S. dollar and yen denominated assets.

EUR/USD last traded lower by 111 pips at 1.2766 after trading between 1.2736 and 1.2877, while USD/JPY hit a fresh 15-year low at 83.52. The pair was last trading lower by 65 pips at 83.57.

Adding to the pressure on the euro was a downbeat factory orders report from Germany, which showed a 2.2% month-over-month slowdown in July orders despite forecasts for a 0.5% increase. In June, orders were up 3.6%.

Annual orders, meanwhile, slowed to a 17.7% growth rate despite calls for a decline to 20.6% from 24.6% the month prior.