The pan-European Stoxx 600 was more than 1 percent lower with every sector trading in negative territory.
Global markets fell across the board after the Dow Jones industrial average tumbled 665.75 points to close down at 25,520.96 on Friday, capping off the index`s sixth-largest points decline ever. On Monday, futures trading pointed to another day of losses on Wall Street.
Data released Friday showed a higher number of U. jobs compared to analysts` expectations and a 2.9 percent increase on an annualized basis in wages. As a result, traders started wondering whether inflation could suddenly grow at a faster pace than their predictions as well as interest rates, which would mean higher costs for companies.
Financial services stocks were the most affected sector by the global sentiment and fell 1.7 percent around 9:20 a. London time (4:20 a. Looking across the European benchmark, there were only some stocks moving up, with Capita at the top of the index up by 3 percent. The shares of the British company were recovering some gains after the stock plunged to a 20-year low last week following a profit warning.
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