- The pan-European Stoxx 600 slipped 0.1%, paring losses slightly after falling as much as 1.2% in early deals.
- The IMF on Tuesday cut its global growth forecast, citing supply chain challenges and persistent Covid spread.
- Investors are bracing for a slew of U.S. earnings, with major banks revealing third-quarter results this week.
European stocks closed mostly lower on Tuesday amid volatile sentiment in global markets.
The pan-European Stoxx 600 closed 0.1% lower provisionally, paring losses slightly after falling as much as 1.2% in early deals. Health care, retail and basic resources stocks fell 0.5% each, leading the losses.
The muddled trade in Europe on Tuesday comes amid a choppy period for global markets, as investors monitor the outlook for inflation, supply chain issues, bond yields and central bank policy.
The International Monetary Fund on Tuesday cut its global growth forecast, citing supply chain challenges and persistent Covid spread.
Meanwhile, U.S. job openings in August fell by more than half a million to 10.4 million, according to data released by the Labor Department Tuesday.
Investors are bracing for a slew of U.S. earnings, with major banks revealing third-quarter results this week; JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup are all due to report, starting Wednesday.
Back in Europe, the U.K. added 207,000 jobs in September, official figures showed on Tuesday, taking British employers' payrolls to a record high as the end of the government's furlough program draws near.
Germany's latest ZEW survey of economic sentiment fell for the fifth consecutive month, the institute reported on Tuesday, as supply bottlenecks continued to weigh on Europe's largest economy. The index fell to 22.3 points, below an estimate of 24.0, while current conditions sentiment plunged to 10.3 points to 21.6 against a consensus forecast of 28.5.
Enjoyed this article?
For exclusive stock picks, investment ideas and CNBC global livestream
Sign up for CNBC Pro
Start your free trial now
- CNBC's Ryan Browne, Eustance Huang and Yun Li contributed to this market report.