European shares battered in global sell-off
STOXX 600 -2.3%
Asia-Pac markets tumble, Nikkei down 12.4%
Miners, energy lead sell-off
Banks weak
Wall Street futures plunge
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EUROPEAN SHARES BATTERED IN GLOBAL SELL-OFF
European stock markets are tumbling on Monday alongside a brutal sell-off in global shares, on worries about a hard landing in the U.S. and as investors unwind previously profitable carry trades as the yen strengthens.
Heightened geopolitical concerns on concerns that Middle East conflict could widen were also keeping markets on the back foot.
The pan-European STOXX 600 index .STOXX is down 2.3%, having earlier touched its lowest level since February.
Major markets in .GDAXI, France .FCHI, Britain .FTSE, Switzerland .SSMI, Italy .FTMIB and Spain .IBEX are down 2%-3%.
In a sign that the decline has been driven by recession fears, miners .SXPP and energy .SXEP stocks are leading the fall in Europe.
But the weakness is broad-based with banks .SX7P also tumbling over 3% as investors trim previously profitable trades.
In individual stocks news, shares in Wood Group WG.L are falling over 37% after Sidara said it would not make a bid for the company.
OCI Global OCI.AS is Europe's bright spot, trading higher by over 10%, after it agreed to sell its clean ammonia project in Texas to Asutralia's Woodside Energy for $2.35 billion.
Here's your opening snapshot:
(Samuel Indyk)
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MONDAY'S OTHER LIVE MARKETS POSTS:
STOCK MARKETS IN FREEFALL AS EUROPE GETS UNDERWAY CLICK HERE
BATHED IN A SEA OF RED CLICK HERE
European equities hammered in global sell off https://reut.rs/46AHAg9
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