Eurozone stock markets slide

LONDON: Eurozone stock markets slumped on Friday as the euro continued to pressure the dollar and traders awaited key US jobs data.

Around 1100 GMT, the Frankfurt and Paris stock markets were down one percent or more on Thursday's closing levels.

Outside the eurozone, London's losses were less acute at 0.3 percent.

The German market was hit also by news that the nation's biggest lender, Deutsche Bank, was pushed into the red last year by US President Donald Trump's tax reforms.

Deutsche Bank's share price was down 4.4 percent at 14.10 euros in early afternoon Frankfurt deals.

"The global equity selloff has gathered pace, with European markets taking the brunt of the selling," said Chris Beauchamp, chief market analyst at IG trading group.

The euro meanwhile dipped versus the dollar but kept the US unit pressured ahead of the employment data.

Attention was shifting towards the US non-farm payrolls figures due Friday, with a strong reading likely adding to talk that US borrowing costs will continue to rise.

"Today's US payrolls report for January is not expected to undermine the case for higher rates, with expectations of an improvement," noted CMC Markets UK analyst Michael Hewson.

- Bitcoin heads down -

Wall Street stocks finished mostly lower Thursday on unease over the prospect of higher interest rates as Treasury bond yields hit multi-year highs.

Asian markets swung Friday with some recovering from early losses but traders remain on edge as over the rise in US Treasury yields.

With the Federal Reserve already in the midst of a rate-raising cycle -- it is now tipped to hike at least three times this year -- there is increasing concern about the impact on world markets.

Equity traders have been firing on all cylinders in recent months, sending markets to record or multi-year highs, on confidence in the global economy and healthy earnings.

That improvement has caused central banks to temper their crisis-era stimulus measures, which has led to a rise in bond yields, including the key US Treasury market.

The dollar was up slightly against its major peers but it is struggling to stage a strong recovery against the pound and euro as dealers bet on tighter monetary policy at the European Central Bank and preferable terms for Britain when it leaves the European Union.

The dollar was also weighed by reports that the new head of the FBI could resign if Trump approves the release of an explosive secret memo at the centre of a political firestorm in Washington.

However, the yen eased after the Bank of Japan moved to reduce its own bond yields, which had been pulled up with US Treasuries.

Bitcoin fell below $9,000 for the first time since November after India said it did not consider cryptocurrencies legal tender and will look to eliminate their use as payment systems.

The remarks come after regulators in South Korea, China and Russia recently said they would clamp down on virtual currencies.

Bitcoin is now below $8,500, compared with its record high around $19,500 seen in mid-December at the height of a crypto-boom. Some analysts warn it could fall to $6,000.