European stocks were sharply lower Thursday morning, as a sell-off in U.S. equities dragged down global markets.
The pan-European Euro Stoxx 600 Index was down by 1.7 percent shortly at 364.40 after the market open. The benchmark hit its lowest level in more than 20 months. Technology stocks led the losses, down 3.2 percent, after a sharp sell-off for the same sector on Wall Street.
Around the world, equity markets have tumbled on the back of rising fears around global economic growth and rising interest rates. The International Monetary Fund warned earlier this week that simmering trade tensions, such as those between the U.S. and China, could lead to a "sudden deterioration in risk sentiment, triggering a broad-based correction in global capital markets and a sharp tightening of global financial conditions." Meanwhile, U.S. Treasury yields have this week climbed to multi-year highs, however they pared gains late into Wednesday's trading session.
Source : CNBC