European shares open lower after US-led slide

Markets Right Now Dow down 500 as stocks sink steadily

Asian markets fell more sharply.

Belgium's Umicore jumped 7.8 percent after raising 892 million euros in equity for new investments in rechargeable battery materials at a discount of only 2.7 percent to Thursday's closing price.

Stocks are sliding further on Wall Street, putting the market on track for its second big weekly drop in a row.

In currency markets, the Canadian dollar closed at an average trading value of 79.46 cents USA, down 0.25 of a U.S. cent. The FTSE All Share and FTSE 250 indices were also showing losses of 0.8 per cent and 0.68 per cent respectively. Germany's DAX declined 2.6 percent.

European shares fell to their lowest level in nearly six months on Friday after a roller coaster week marred by a historic spike in volatility on worries a comeback of inflation would speed a shift to tighter monetary policies. Prior to the sell-off, the expectation was that a market dip was inevitable at some point as valuations became pricier, particularly in the US.

Two of the USA stock market's three major indexes are in correction territory now.

Investors anxious rising wages will hurt corporate profits and could signal an increase in inflation that could prompt the Federal Reserve to raise interest rates at a faster pace, putting a brake on the economy.

First quarter sales dropped to US$3.07bn, down from US$3.32bn, in the three months to December as film and theatre went down by 28% and 48% respectively, due to the number and mix of current quarter releases.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Markets are in a tizz about interest rates increasing more quickly than expected in the United States in 2018.

That sign of inflation has market participants anxious that the Federal Reserve will increase interest rates, perhaps more aggressively than the three rate hikes already expected for this year. Even with the rebound, this was the worst week for the market in about two years.

"In the absence of recession, a deep bear market is unlikely", he said.

Stocks aren't falling because investors have doubts about the economy. There are now a couple of bargains to be found in the Asia and emerging market sectors.

Volatility remained high compared to recent months. The renewed weakness in stocks only dragged the 10-year Treasury yield moderately lower to 2.82%.

Investors are concerned that tighter monetary policies could hit equities whose valuations have been boosted by years of loose financial conditions. Japan, for example, may now be worth a closer look. Those including technology companies, banks, and retailers and travel companies and homebuilders.

Machine-guided, numbers-obsessed fund managers may keep selling pressure on stocks this week as they come to terms with the market's wild trading.

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