08:02 AM EDT, 08/05/2024 (MT Newswires) -- European bourses tracked solidly lower midday Monday as traders weighed large overnight losses on Asian exchanges, including a 12.4% decline in Tokyo, and a gloomy New York futures market.

Retail, oil, tech, bank and property issues led broad market declines on European trading floors through early afternoon.

The pan-continental Stoxx Europe 600 Index was off 2.6% mid-session.

The Stoxx Europe 600 Technology Index was off 3.2%, and the Stoxx 600 Banks Index lost 3.5%.

The Stoxx Europe 600 Oil and Gas Index was off 3.9%, and the Stoxx 600 Europe Food and Beverage Index declined 1.7%.

The REITE, a European REIT index, fell 3.8%, and the Stoxx Europe 600 retail Index declined 3.6%.

On the national market indexes, Germany's DAX 30 was down 2.9%, and the FTSE 100 in London was down 2.7%. The CAC 40 in Paris was off 2.4%, and Spain's IBEX 35 lost 3.0%.

Yields on benchmark 10-year German bonds were lower, near 2.12%.

Front-month North Sea Brent crude-oil futures were down 1.8% to $75.42 per barrel.

In economic news, the European investor confidence index declined to a negative 13.9 in August from negative 7.3 in July, reported Sentix.

The Euro Stoxx 50 volatility index jumped 35.32% to 24.52, indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.