Trade, data, stocks as global sentiment sours

European stocks slid into negative territory on Tuesday amid gloomy sentiment in global markets.

The pan-European Stoxx 600 dropped 1% in early trade, with basic resources shedding 1.8% to lead losses as all sectors and major bourses began the session in the red.

The negative start for Europe on Tuesday comes after a choppy period for global markets.

On Monday, European stocks were muted during the trading session, searching for direction after a volatile week. Meanwhile, U.S. stocks fell on Monday as investors looked at surging oil prices, economic worries and major earnings results ahead.

The Dow Jones Industrial Average shed 250.19 points, or 0.7%, to close at 34,496.06. The S&P 500 ticked lower by 0.7% to 4,361.19. The Nasdaq Composite dipped 0.6% to 14,486.20.

U.S. stock futures declined in early premarket trading on Tuesday.

Investors are bracing for a slew of U.S. earnings, with major banks revealing third-quarter results this week; JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup are all due to report, starting Wednesday.

Overnight, shares in Asia-Pacific tumbled on Tuesday, with major indexes from Japan to Hong Kong falling at least 1%.

Investors in the region were keeping a close eye on oil prices, which slipped in Asia trading hours, taking a pause following a recent surge above $80, before recouping some of the losses.

International benchmark Brent crude futures was last seen down 0.07% to $83.60 per barrel, while U.S. crude futures shed 0.27% to $80.30 per barrel.

On the economic data front, the U.K. added 207,000 jobs in September, official figures showed on Tuesday, taking British employers’ payrolls to a record high as the end of the government’s furlough program draws near.

Germany’s latest ZEW survey of economic sentiment is also due Tuesday.

In terms of individual share price movement, London-based fintech company Wise dropped 4.3% in early trade, while at the top of the Stoxx 600, German manufacturer Gerresheimer added 3.6%.

– CNBC’s Eustance Huang and Yun Li contributed to this market report.