Investing.com – European stocks extended early sharp losses on Tuesday, while U.S. futures indexes also pointed lower as fears over a slowdown in global growth prompted a flight from risk.
During European afternoon trade, the EURO STOXX 50 tumbled 1.55%; France’s CAC 40 fell 1.46% while Germany's DAX was down 1.03%.
Falling equities have seen the yen soar to a 15-year high against the U.S. dollar and a 9-year high against the euro.
Earlier in the day, Japanese Finance Minister Yoshihiko Noda said that recent currency moves were one-sided and added that that the disorderly moves could threaten economic stability.
In London, the commodity heavy FTSE 100 fell 1.09% as shares in Vedanta Resources tumbled 5.65% after the Indian government rejected its plan to mine bauxite, on environmental grounds.
Elsewhere in the commodity sector, miners emerged as the worst performers as optimism that a Australian mining "super-tax" would be scrapped receded. Shares in BHP Billiton, the world's largest miner fell 0.46% while Chilean miner Antofagasta dropped 2.78%.
Crude oil prices also tumbled, shedding 0.88% to hit USD 72.29 a barrel.
The outlook for U.S. equity markets, meanwhile, was grim ahead of earnings reports from Barnes & Noble, Burger King and Medtronic.
Dow Jones Industrial Average futures indicated a loss of 0.77%, S&P 500 futures pointed to a drop of 0.86% and Nasdaq 100 futures indicated a decrease of 0.71%.
Later in the day, the U.S. was to release data on new home sales.
During European afternoon trade, the EURO STOXX 50 tumbled 1.55%; France’s CAC 40 fell 1.46% while Germany's DAX was down 1.03%.
Falling equities have seen the yen soar to a 15-year high against the U.S. dollar and a 9-year high against the euro.
Earlier in the day, Japanese Finance Minister Yoshihiko Noda said that recent currency moves were one-sided and added that that the disorderly moves could threaten economic stability.
In London, the commodity heavy FTSE 100 fell 1.09% as shares in Vedanta Resources tumbled 5.65% after the Indian government rejected its plan to mine bauxite, on environmental grounds.
Elsewhere in the commodity sector, miners emerged as the worst performers as optimism that a Australian mining "super-tax" would be scrapped receded. Shares in BHP Billiton, the world's largest miner fell 0.46% while Chilean miner Antofagasta dropped 2.78%.
Crude oil prices also tumbled, shedding 0.88% to hit USD 72.29 a barrel.
The outlook for U.S. equity markets, meanwhile, was grim ahead of earnings reports from Barnes & Noble, Burger King and Medtronic.
Dow Jones Industrial Average futures indicated a loss of 0.77%, S&P 500 futures pointed to a drop of 0.86% and Nasdaq 100 futures indicated a decrease of 0.71%.
Later in the day, the U.S. was to release data on new home sales.