London (UKX) -2.17%

Germany (DAX:IND) -2.20% Germany’s service sector upturn loses momentum at start of third quarter.

France (CAC:IND) -2.00% France services PMI rises to 50.1 in July, gets a boost from Olympic Games.

Spain’s services PMI drops to 53.9 in July.

The HCOB Italy Services PMI fell to 51.7 in July.

Euro Area composite and services PMI ease in July.

The pan-European Stoxx 600 (STOXX) moved 2.27% lower, with all sectors and major regional bourses trading in the red. Fears of a global selloff grip the markets, global volatility shakes indices amid concerns of a looming U.S. recession.

The heavyweight financial and luxury sectors were also down, including BNP Paribas (OTCQX:BNPQF) (OTCQX:BNPQY), ING (ING), UniCredit (OTCPK:UNCFF), LVMH (OTCPK:LVMHF) (OTCPK:LVMUY), and Hermes (OTCPK:HESAY) (OTCPK:HESAF).

Corporate earnings in Europe today to come from Uniper (OTCPK:UNPRF), Infineon (OTCQX:IFNNY), Monte dei Paschi (OTCPK:BMDPF) and Palantir Technologies (PLTR).

Asian indices also bleed, with Japan seeing more than 12% selloff, followed by India, Australia, China, and HongKong.

Coming up in the session: UK PMI numbers expected shortly; Euro Area PPI numbers in queue.

In the bond market, the U.S. 10-year Treasury yield was down 4 basis points to 3.75%.

Germany’s 10-year yield was down 3 basis points to 2.13%.

U.K.’s 10-year yield was down 2 basis points to 3.81%.

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