European equities headed south early Tuesday, extending losses for the third day following the monster selloff that took its grip on Wall Street overnight. Bad news is taking over the market sentiment again amid speculation the rout which wiped nearly $3 trillion from global stocks could get worse this month, while volatility remains the major theme across the global bourses from Wall Street , which suffered its worst plunge since June after weak data, to the Asian Pacific, where turmoil is still taking its toll on risky assets. The Stoxx Europe 600 lost 0.74% to 315.85 at 03:45 a.m. EST , dragged by 1.16% slump in technology group. The European benchmark is still extending a two-week slump. It has settled yesterday below 320-mark for the first time since Dec. 19 and now breaking through this key support for the second day in a row. Taking a look at the three key bourses in Europe : - Britain`s FTSE 100 was down 0.69% to 6,420.09 - France`s CAC 40 was down 0.51% to 4,086.95 - Germany`s DAX 30 was down 0.95% at 9,099.47 T he ISM`s manufacturing report, weak throughout, shows one of the biggest crunch ever for new orders. The very abrupt slowing underscores recent weakness in Chinese manufacturing data. Wall street mourned the manufacturing shock, with the Dow losing a very heavy 2.1% on Monday settling at 15,375. In the meantime, traders are cautiously watching for December factory orders on Today`s calendar which are expected to drop 1.8%. The factory numbers come ahead of January employment situation report on Friday. Volatility will mark the upcoming sessions as traders anticipate the factory and payroll numbers to gauge the health of the world`s largest economy, especially after the Federal reduced monetary stimulus for second time last week.
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