European stocks slump to 6-week lows amid Fed rate hike concerns

A renewed bout of risk-aversion gripped the European markets, as concerns over Fed’s rate hike outlook intensified; with markets pricing-in an imminent Fed rate hike in wake of hawkish Fed speaks.

The European equities joined the global sell-off and dived deeper in the red zone, also on the back of sharp losses seen in the mining and energy stocks as oil and metals’ prices continue to tumble.

Meanwhile, Germany's DAX 30 index drops -2% to 10,364, while the UK's FTSE 100 index tanks -1.60% at 6,670. Among the other indices, the French CAC 40 index dives -1.98% to 4,402, while the pan-European Euro Stoxx 50 index crashes -2% to breach 3k mark.

All eyes now remain on Fed Governor Lael Brainard scheduled to speak at the Chicago Council on Global Affairs later on Monday.