European markets sink at open in global selloff

LONDON: Europe’s main stock markets opened sharply lower Thursday, after heavy losses in Asia and on Wall Street.

London’s benchmark FTSE 100 index of major blue-chip companies fell 0.8 percent to 7,376.16 points compared with Wednesday’s close.

In the eurozone, Frankfurt’s DAX index lost 1.5 percent to 13,800.02 points and the Paris CAC 40 shed 1.4 percent to 6,262.72.

“Sentiment … is highly negative as traders and investors are largely concerned about an economic downturn and soaring inflation,” said AvaTrade analyst Naeem Aslam.

European shares deepen fall on inflation worries

Asian equities also posted losses Thursday after Wall Street suffered one of its worst batterings in two years.

Downcast earnings reports from retailers had also exacerbated worries about consumer resilience and corporate profitability on Wednesday.