Europe’s STOXX 600 tumbles on risk-on mood after US sell-off By Reuters

(Reuters) – European shares opened sharply lower on Wednesday as global markets were rocked by concerns of an impending slowdown in the United States, while investors eyed more economic data from the euro zone.

The pan-European index was down 1 percent by 0710 GMT, while all other major European markets were also down about 1 percent.

The losses followed an overnight sell-off in Wall Street’s main indexes, all of which posted their biggest daily percentage declines since early August, as sentiment was dampened by weak manufacturing data. (.N) (MKTS/GLOB)

Semiconductor companies were the biggest losers in early trading, with shares in ASML ( AS: ) down 5.3%, trailing a drop in Nvidia (NASDAQ: ) on Tuesday.

Barratt fell 1.4 percent after the British builder said housing demand remained sensitive to mortgage affordability, after posting a 56 percent drop in its annual profit.

Investors will be briefed on the eurozone HCOB services purchasing managers’ index at 0800 GMT and July producer price data at 0900 GMT, for more light on the region’s economic health and interest rate outlook.

PMI services in Germany, Spain, Italy and France are also scheduled later in the day.