European equities extend losses at open

PARIS: European markets opened lower on Tuesday, extending losses as the fallout from the war in Ukraine continues to spook investors.

London’s FTSE 100 fell 0.5 percent at 6,923.26 points, the DAX in Frankfurt was down 1.2 percent at 12,676 points and the Paris CAC 40 shed 0.6 percent at 5,948.31 points.

Stocks and commodity markets were rattled on Monday after the United States said it was in talks with allies about banning oil imports from Russia.

Germany later cautioned about such a drastic move.

Investors also reacted to talks on Monday between Russia and Ukraine.

Russia planned to open humanitarian corridors in Ukraine on Tuesday for civilians to flee besieged cities, but Kyiv insisted the move was a publicity stunt and people would not be able to escape.

The rise in commodity prices has forced investors to re-evaluate their outlook for the global recovery, with some now warning of a period of soaring inflation and low growth or recession.