Investing.com - European stocks opened sharply lower on Tuesday, amid security concerns after two explosions at Brussels airport killed at least eleven people and injured several others.
During European morning trade, the EURO STOXX 50 lost 1.57%, France’s CAC 40 plummeted 1.57%, while Germany’s DAX 30 tumbled 1.84%.
Brussels airport confirmed that there had been two explosions shortly after 8am and warned passengers not to come to the airport, which would be closed until further notice.
Global equities had weakened earlier, after Atlanta Federal Reserve President Dennis Lockhart said on Monday that the Fed could hike interest rates in April.
Earlier Tuesday, research group Markit said that Germany’s manufacturing purchasing managers’ index ticked down to 50.4 in March from 50.5 the previous month, compared to expectations for a rise to 50.8.
Germany’s services PMI rose to 55.5 this month from 55.3 in February, compared to expectations for a fall to 55.0.
In France, the manufacturing PMI fell to 49.6 in March from 50.2 the previous month, while the services PMI rose to 51.2 from 49.2.
Financial stocks were broadly lower, as French lenders Societe Generale (PA:SOGN) and BNP Paribas (PA:BNPP) tumbled 1.87% and 1.76%, while Germany’s Commerzbank (DE:CBKG) and Deutsche Bank (DE:DBKGn) lost 1.95% and 2.93%.
Earlier Tuesday, Moody’s Investors Service said it may cut Deutsche Bank’s credit rating amid concerns that it could struggle to restructure its businesses and boost profitability.
Among peripheral lenders, Italy’s Intesa Sanpaolo (MI:ISP) and Unicredit (MI:CRDI) plummeted 1.99% and 2.09% respectively, while Spanish banks Banco Santander (MC:SAN) and BBVA (MC:BBVA) retreated 0.99% and 1.29%.
Elsewhere, Swatch Group (SIX:UHR) dropped 0.50% following reports Swiss watch exports fell for an eighth consecutive month.
In London, FTSE 100 lost 1.11%, as U.K. lenders tracked their European counterparts lower.
Shares in HSBC Holdings (LON:HSBA) slid 0.36% and Lloyds Banking (LON:LLOY) declined 1.59%, while the Royal Bank of Scotland (LON:RBS) and Barclays (LON:BARC) plunged 1.91% and 2.80% respectively.
Meanwhile, mining stocks were mixed on the commodity-heavy index. Fresnillo (LON:FRES) jumped 1.27% and Randgold Resources (LON:RRS) rallied 1.40%, while Glencore (LON:GLEN) dropped 0.84% and Anglo American (LON:AAL) tumbled 1.97%.
Anglo American earlier announced that it had completed a bond buying program that has allowed it to reduce its net debt by $130 million.
In the U.S., equity markets pointed to a lower open. The Dow Jones Industrial Average futures pointed to a 0.51% drop, S&P 500 futures a 0.62% decline, while the Nasdaq 100 futures indicated a 0.65% drop.