European markets were sharply lower Thursday morning, following steep losses in the U.S. overnight amid fears over rapidly rising interest rates and an expected slowdown in global growth.
The pan-European Stoxx 600 was down by 1.8 percent during mid-morning deals, with financial services and technology stocks leading the losses. A dramatic sell-off on Wall Street in the previous session prompted the European benchmark to fall to its its lowest level in more than 20 months.