European stocks dive amid Fed rate hike talks, weak China data

The stocks on the European bourses opened lower and extended losses thereon, as the overall market sentiment deteriorated on reports of a worse-than expected Chinese trade report, which once again underscored China slowdown worries.

While increased odds of a Dec Fed rate hike, after the Sept FOMC meeting minutes reflected a strengthened case for a rate rise this year, affected the corporate sentiment negatively. Moreover, weaker oil prices further added to the negative tone seen around the European indices.

On the corporate news front, FMCG Giant Unilever shares dipped after Tesco, Britain's largest supermarket chain delisted a number of Unilever products from its website over price increases, while the Italian banks remained in the spotlight.

Meanwhile, Germany's DAX 30 index drops -1.19% to 10,396, while the UK's FTSE 100 index drops -0.44% to, 6,993. Among the other indices, the French CAC 40 index declines -1.16% to 4,399, while the pan-European Euro Stoxx 50 index skids -1.07% to 2,974.