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The pan-European Stoxx 600 was down around 0.4% shortly after the opening bell, with nearly all sectors and major exchanges in negative territory.
Stocks in Asia-Pacific mostly fell overnight, with Chinese internet stocks in Hong Kong falling again as regulatory fears resurfaced. Tencent, Alibaba and JD.com have all been seen on the decline, shortly after China’s market regulator released draft rules aimed at preventing unfair competition on the internet.
On Wall Street, US stock index futures were slightly lower after the Dow Jones and S&P 500 closed on Monday at record highs during regular trading.
Back in Europe, UK employment data showed the number of employees on UK business payrolls increased by 182,000 months from July to July. The UK’s Office for National Statistics said the overall unemployment rate for the second quarter was 4.7%, slightly lower than economists polled by Reuters had expected.
Eurozone inflation rate figures for July will follow around 10:00 a.m. London time.
The ongoing coronavirus pandemic and the spread of the highly transmissible delta Covid-19 variant have shaken market confidence. Investors are also monitoring the potential geopolitical implications following the Taliban’s takeover of Kabul, the capital of Afghanistan.
US President Joe Biden has dismissed the blame for the scenes of unrest and panic as thousands were seen at a Kabul airport desperately trying to flee.
Biden called the anguish of those trapped in the country “heartbreaking” and admitted that the Taliban’s blitz had happened faster than expected. His comments came amid mounting criticism of his administration’s handling of the situation.
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