European stocks extend the drop

Equities in the Old Continent are intensifying its correction lower at the end of the week, with reference indices DAX, CAC40 and FTSE100 among others and the broader Stoxx50 all flirting with daily lows.

Poor financial results from giants Royal Bank of Scotland (RBS) and BASF AG are dragging the rest of their peers to fresh lows, partially fading the recent upside to multi-year tops.

Adding to the downside, the generalized cautious tone among traders is seen growing bigger in light of the upcoming speech by President Donald Trump (Tuesday) and Chief Janet Yellen (Friday) as well as key releases in the US docket.

At the moment, EuroStoxx50 is down nearly 1%, DAX losing 1.30%, FTSE100 shedding 0.70% and CAC40 losing 1.4%.