European stocks shed large losses on Monday as traders tracks tensions in the Ukraine and U.S. Federal Reserve’s outlook on interest rate.
The FTSE 100 plunged 2.26% while STOXX 600 and DAX is down by 2.82% and 3.61% respectively.
MSCI World index is down by 1.58%.
“The real fear is that China backs Russia and the relationship between China and the U.S. continues to deteriorate,” said Robert Cantwell, chief investment officer at Upholdings to CNBC.
“How it changes the U.S. relationships with the other economic superpowers – that’s what’s really scary and would affect economic outcome.”
