European stocks followed Asian indices lower on Tuesday as the price of oil declined sharply.
By late morning in London, the FTSE 100 was down 1.65% at 5,959.95. In Frankfurt, investors shaved 1.19% off the value of the DAX, which fell to 9,642.06, and in Paris the CAC 40 dropped 1.85% to 4,311.02.S&P 500 futures were down 0.82% at 1,915.5. West Texas Intermediate crude oil and Brent crude both tumbled well more than 3% to $30.49 and $32.97, respectively.
In Asia most indices fell, though Chinese stocks rose sharply. The CSI 300 composite index on mainland China jumped 2.08% to close at 2,961.33.
In Tokyo, the Nikkei 225 slipped 0.64% to close at 17,750.68 and the Topix fell 0.73% to 1,452.04. In Hong Kong, the Hang Seng ended the day 0.76% lower at 19,446.84.