European Stock Markets Slumped &Nbsp, And Germany'S Stock Market Fell More Than 5%.

Tuesday morning, Beijing time

European stock market fell in the afternoon

The US stock market closed on Monday due to labor holidays.

The German DAX 30 index fell 5.3%, closing at 5246.18 points.

Deutsche Bank fell 8.9%.

The biggest decline in the Stoxx 600 index was Clariant, the Swiss special chemical group, which plunged 16.3%.

With strong Swiss francs and a global slowdown, the company lowered its annual sales and profit forecasts.

Other chemical stocks went down with Clariant, BASF fell 5.6%, and Bayer dropped 4.6% in Frankfurt.

European banking stocks across the board

ETX Bank senior trader Manoj Ladwa pointed out in an email that "bank stocks continue to be under pressure today.

The possibility of a recent recovery is still slim. Debt problems, structural reforms and mortgage related lawsuits in the eurozone have been a blow to bank stocks.

Royal Bank of Scotland fell 12.3%, the bank appeared last week in the Federal Housing Finance Bureau's list of charges.

The Federal Housing Finance Agency has prosecuted several US and European banks, saying they failed to explain the quality of these assets when they sold mortgage securities during the housing market bubble.

The agency claims billions of dollars at present.

Bank shares fell sharply on the list of lawsuits, Deutsche Bank fell 8.6, Societe Generale (13, -0.18, -1.37%) fell 8.6%, Barclays fell 6.7%, and HSBC fell 3.8%.

The French CAC 40 index fell 4.7%, closing at 2999.54 points.

Paris Bank of France fell 6.3%, and Credit Agricole Bank fell 5.5%.

CAC 40 shares Schneider electric fell 6.6%, HSBC and the Alston rating from the "super allocation" to "uniform".

Alston fell more than 6%.

Legrand fell by 4.8%, and the stock rating was also downgraded from "super matching" to "matching".

HSBC said in a research report that the performance of the European capital material industry in 2011 has been cut by 14%, and the target price has been cut by an average of 21%, partly due to the increased risk of cyclical stocks.

Spain's IBEX 35 index fell 4.7%, closing at 8066.50 points.

Spain's National Bank fell nearly 6%.

German campaign

The bad news never seems to stop.

The negotiations between international creditors and Greece broke down last Friday because the parties could not agree on reducing the budget deficit.

Greece's main stock index fell 3.1%, and EFG Eurobank Ergasias fell by nearly 10%.

In Germany, the Christian Democratic Alliance of prime minister Merkel suffered a crushing defeat in the local elections on Sunday.

Some analysts believe that this is voter anger at the German government's handling of the European debt crisis.

Spreadex trader Jordan Lambert said in the e-mail, "there are more bad news when the market is very fragile, and the market is still digesting the non farm employment data of last Friday."

Political and economic problems also put pressure on Italy stock market.

The government of Italy is now under tremendous pressure to seek austerity measures as soon as possible.

According to the Wall Street journal, the European Central Bank President Jean Claude Trichet said on Saturday that Italy must immediately implement the austerity plan and not delay it.

The Italy financial times MIB index fell 4.8%, closing at 14333.91 points.

Italy United St Paul Bank fell 7%.

Economic data are also poor.

Data released on Monday showed that the vitality of the private sector in the euro area has dropped to a low of two years in August.

Last month, the Markit composite purchasing managers index fell from 51.1 in July to 50.7.

The FTSE 100 index fell 3.6% to 5102.58.

Banks and resource stocks took the lead.

Holland Royal Shell fell 4.3%, Rio Tinto fell 5%.