LONDON — European stocks fell sharply at the start of Monday's session, as global volatility continues amid concerns of a looming U.S. recession.index was 2.66% lower by 11:28 a.m. London time, with all sectors and major regional bourses trading in the red. Tech stocks shed as much as 5% before paring losses slightly to trade down 3.5%. Oil and gas stocks also lost 3.94%, while bank were 3.62% lower.The VIX, a measure of expected market volatility, jumped to 41.
The yen, meanwhile, rose to its highest level against the dollar since January and was last seen trading at 143.55. Earnings in Europe come from Uniper, Infineon, Monte dei Paschi and Palantir Technologies on Monday. Data releases include services purchasing managers' index data from the U.K, Italy and Spain.