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European stock markets sink at open

In initial deals, London stocks lost about 1.0 percent, while Frankfurt and Paris each shed 2.0 percent in value.

February 28, 2022 / 01:59 PM IST

Europe's stock markets opened sharply lower Monday after world powers imposed fresh sanctions on Russia over its invasion of Ukraine, while President Vladimir Putin put nuclear forces on a higher alert.

In initial deals, London stocks lost 1.0 percent, while Frankfurt and Paris each shed more than 2.0 percent.

"The Russian invasion in Ukraine and the bigger sanctions imposed on Russia take a severe toll on market sentiment," SwissQuote analyst Ipek Ozkardeskaya said.

Sentiment was also slammed as Brent oil rebounded back above $100 per barrel, fanning fresh fears of soaring inflation, while the ruble collapsed in value.