European stocks fall 3% as the global sell-off continues; Credit Suisse down nearly 4%

by Dramelin 3:30 AM 0 comments

The pan-European Stoxx 600 was 3 percent lower with every sector in the red.
Autos, chemicals and technology stocks were the most impacted by the sell-off down by more than 3 percent.
Overall there was a sea of red across the European benchmark with only three companies trading slightly above the flatline at about 8.
On Wall Street, the Dow Jones industrial average dropped 1,175.
21 points to close down at 24,345.
75 on Monday — having briefly declined by more than 1,500 points during the session.
futures extended losses on Tuesday overnight.
Meantime in Asia, indexes closed sharply lower as the global sell-off continued.
The sell-off kicked into action on Friday, after the latest nonfarm payrolls report in the U.
saw interest rates on sovereign debt jump.
While there was no particular piece of news that pushed major U.
indexes deep into the red on Monday, the recent moves in the bond market have added volatility and concern to market sentiment.
Traders believe that inflation might kick in faster-than-expected.