European stocks open with further losses after U.S. inflation spike

European stocks opened sharply lower on Monday, retreating for sharply for a second day after the surprising acceleration in U.S. inflation that was revealed by the Labor Department. The German DAX lost 1.2% and the U.K. FTSE 100 fell 0.9%, as all of the major sectors lost ground in early action. Futures on the Dow Jones Industrial Average fell 428 points as the yield on the 2-year Treasury shot up a further 11 basis points to 3.18%.

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