LONDON — Europe’s markets all headed down Tuesday morning.
The DAX in Frankfurt slipped 1.8 percent to 11,461.68, followed by the CAC 40 in Paris, down 1.6 percent to 4,948.15. The FTSE MIB in Milan dipped 1.4 percent to 22,999.30, while the FTSE 100 in London lost 1.3 percent to 6,939.70.
Reuters reported that investors are wary after a sell-off in global bonds, with investors selling both European and U.S. government paper as the bonds’ yields have risen over the past weeks, meaning their prices have fallen and that borrowing costs have risen.
Fashion, luxury and retail stocks were also largely down.
Among the fallers were Ted Baker, 3.4 percent to 28.48 pounds; French Connection, 3.9 percent to 0.43 pounds; Salvatore Ferragamo, 1.7 percent to 28.56 euros, and Safilo Group, 2.2 percent to 13.10 euros.
The few risers included Mulberry, 2.4 percent to 9.24 pounds; Yoox Group, 0.7 percent to 29.11 euros, and Swatch Group, 0.6 percent to 77.90 Swiss francs.
At 11:17 a.m. CET, the pound traded for $1.55, as it gained against the dollar on an Office for National Statistics report from the U.K. Tuesday. The report noted that the U.K.’s total production output rose an estimated 0.1 percent between the fourth quarter of 2014 and the first quarter of 2015, while manufacturing was up 0.1 percent during the same period and advanced 0.4 percent between February and March 2015.
The euro traded for $1.12, while the Swiss franc went for $1.07.