07:36 AM EDT, 08/02/2024 (MT Newswires) -- European bourses tracked sharply lower midday Friday as continental traders joined global wariness over the economies of the US and China after recent soft industrial and employment reports from the two nations.

Tech issues buckled, while bank and retail stocks also fell back amid broad market declines.

Yields on benchmark European sovereign bonds eased, extending Thursday's drop.

Investors also eyed Wall Street futures signaling red and sharply lower closes overnight on Asian exchanges, including a 5.8% decline on Tokyo's Nikkei 225.

The pan-continental Stoxx Europe 600 Index was off 1.7% mid-session.

The Stoxx Europe 600 Technology Index was off 4.6%, and the Stoxx 600 Banks Index lost 2.2%.

The Stoxx Europe 600 Oil and Gas Index was off 0.7%, and the Stoxx 600 Europe Food and Beverage Index declined 0.1%.

The REITE, a European REIT index, fell 0.6%, and the Stoxx Europe 600 Retail Index declined 2%.

On the national market indexes, Germany's DAX was down 1.6%, and the FTSE 100 in London was down 0.5%. The CAC 40 in Paris was off 0.8%, and Spain's IBEX 35 lost 0.7%.

Yields on benchmark 10-year German bonds were down near 2.20% and testing lows for 2024.

Front-month North Sea Brent crude oil futures traded little changed at $79.64 per barrel.

The Euro Stoxx 50 volatility index was up 15.7% to 20.97, indicating marginally 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.