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European stocks plunge on recession fears

Investing.com -- European stocks opened sharply lower on Monday, amid a steep selloff in global equity markets amid fears of a potential U.S. recession.

The DAX in Germany tumbled 2.3%, the CAC 40 in France dropped 2.2%, and the FTSE 100 in the U.K. declined by 2.1% at 03:47 ET (07:47 GMT).

The losses came after steep falls in Asian market overnight, with Japan's Nikkei tumbling 13% to hit nine-month lows, entering bear market territory and marking its biggest one-day percentage drop since October, 1987.

Markets were gripped by fears after Friday's weaker-than-expected nonfarm payrolls data ramped up concerns that the Federal Reserve has keep interest rates high for too long for the economy to see a soft landing.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.