European stock markets tumbled in early action on Wednesday, in the wake of comments late the prior session from former Greek Prime Minister Lucas Papademos and as markets awaited a European Union summit.
Papademos said in an interview with Dow Jones Newswires that preparations are being considered for a euro-zone exit.
Banks and resources, which led the gains Tuesday, were driving losses, with the Stoxx Europe 600 index (XX:SXXP) -0.88% down 1.1% to 241.97.
Among the decliners, shares of HSBC Holdings PLC (UK:HSBA) -1.36% HBC +0.12% fell 1.6% and Total SA (FR:FP) -1.22% TOT -0.31% fell 1.3%.
The French CAC 40 index (FR:PX1) -1.16% fell 1.5% to 3,036.69, with Carrefour SA (FR:CA) +4.78% a lone gainer, up 2.7% on a broker upgrade.
The German DAX 30 index (DX:DAX) -1.12% fell 1.4% to 6,346.18.
The FTSE 100 index (UK:UKX) -1.16% fell 1.2% to 5,337.03, with Burberry Group PLC (UK:BRBY) -5.05% sinking 4.8% after the luxury-goods retailer reported full-year results.
This news has been reported by Market Watch.
