European stocks are down 1% at the end of the global sales wave

Mubasher: European stock indices dropped by more than 1% at the end of trading on Tuesday, as losses on world markets continue.

Most major European stock exchanges are in the red zone at the end of today's session.

Technology shares were today among the worst sectors, a 1.9% drop after a sharp Wall Street loss that affected market confidence in Europe.

The banking sector also declined by 2.2% at the end of trading today with fears of slowing economic growth.

At the end of today's session, the Stoxx 600 declined by more than 1.1% to 351.1 points and the British FTSE fell by 0.8% to 6.947.9 points.

The German index "DAX" lost about 1.6% to 11066.4 points and the French CAC index fell by 1.2% to 4924.9 points.

By 17:11 GMT, the euro fell by 0.6 percent to 1.1386 USD.

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