European stocks fell at the open, extending Monday's decline, as doubts over global growth and the outcome of trade talks weighed on investor sentiment. Switzerland’s UBS Group AG slid after reporting outflows in the fourth quarter.
The Stoxx Europe 600 Index dropped 0.4 percent, with banks leading the fall after UBS said clients withdrew almost $13 billion and warned volatility may continue into 2019. Logitech International SA gained 4 percent after the Swiss company raised its operating income outlook.
The U.S. market will resume trading today after it was closed Monday for a holiday, while in Europe the World Economic Forum opens in Davos, Switzerland.