European markets were trading lower on Monday, erasing gains seen earlier in the session to continue the volatility seen in global markets last week.
The pan-European Stoxx 600 was 0.3% lower at 9:26 a.m. London time, with all major bourses in negative territory. Germany’s Dax was 0.5% lower, after edging higher during early morning deals.
Regional markets closed in negative territory last Friday, rounding off a volatile week marked by whipsawing policy on U.S. tariffs, the latest rate cut from the European Central Bank and key U.S. jobs data which showed nonfarm payrolls rose by a less-than-expected 151,000 in February.
Asia-Pacific markets were mixed overnight as traders looked ahead to the new trading week with investors keeping a watch on steel manufacturers ahead of U.S. 25% tariffs on steel and aluminum imports, which will kick off this Wednesday.
U.S. stock futures moved lower on Sunday evening ahead of a busy week of economic data, with the February consumer price index slated for Wednesday, followed by the producer price index on Thursday.
There will be more geopolitical action this week at a meeting between U.S officials and their Ukrainian counterparts in Saudi Arabia this week. The U.S. said the meeting, which is taking place in Jeddah on Tuesday, will allow it to gauge whether Ukraine is willing to make meaningful concessions in order to reach a peace deal with Russia to end the war.
