FTSE +14 points at 7296
DAX -6 points at 12,251
CAC +3 points at 5084
A mixed open is expected in European shares on Tuesday following yesterday's late sell-off. The Japanese yen and gold prices are rising in a sign that a risk-off tone is taking hold.
Data showing a sharp drop-off in US auto sales has been credited with causing the concern. Car sales typically have a strong correlation with stock markets. Falling car sales cannot cause a bear market but its another leading indicator that downside risks are rising.
South Africa saw most of the FX action overnight with the rand headed to its lowest levels since January after Standard & Poors downgraded the country's debt to junk.
The Reserve Bank of Australia left interest rates unchanged a 1.75%, striking a mildly cautious tone.
Data to watch out for data includes UK construction PMI, European retail sales and US factory orders. If UK construction growth disappoints like manufacturing, it will be another dose of cold water poured on the UK economic outlook post-Brexit.