European stocks traded lower Monday morning, amid escalating concerns of a sharp slowdown in global growth.
In terms of stocks, retail was down the most, by more than 1 percent. UK retail stocks are making heavy losses on Monday.
Meanwhile, basic resources found itself at the top of the best performing stocks, up 0.8 percent.
Market focus is largely attuned to concerns surrounding cooling global growth after soft economic data from China and Europe in the last week added further concerns. On Friday, China reported weaker-than-expected retail sales data, growing at its weakest pace since November 2003.
Stocks in Asia mostly traded higher trade on Monday.
The Bank of International Settlements (BIS), an umbrella group for the world’s central bank’s, said on Sunday that recent market tensions are a sign of more turmoil to come. It warned that a normalization of monetary policy is likely to trigger a flurry of sharp sell-offs in the near future.
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