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Weaker-than-expected economic data from the US has fueled speculation that its economy is slowing.
Friday's US report showing that hiring slowed last month by much more than expected has rattled financial markets.
Friday's sharp drop in US stock prices followed weak jobs data.
In July, US employers added 114,000 jobs, far fewer than expected, while the unemployment rate rose from 4.1% to 4.3%.
The swings started just days after US stock indexes had their best day in months as Federal Reserve Chairman Jerome Powell laid the groundwork for possible interest rate cuts in September.
But after Friday's jobs report, concerns are growing that the Fed may have kept the key interest rate at a two-decade high for too long, raising the risks of a recession in the world's largest economy. .
The firm of veteran American investor Warren Buffett, Berkshire Hathaway, revealed that it had sold about half of its shares in the American technology giant Apple.
The Dow Jones Industrial Average also fell 1.5% on Friday and the S&P 500 closed 1.8% lower.
European stocks fell sharply early in the session on Monday as global volatility continued amid concerns of an impending US recession.
The regional Stoxx 600 index was 2.66% lower today, with all sectors and major regional bourses trading lower. Shares of technology companies fell as much as 5%, before paring losses slightly to 3.5%. Oil and gas shares also fell 3.94%, while the banking sector was 3.62% lower.
The lower start for major European markets comes amid broader global volatility.
The VIX, a gauge of expected market volatility, rose to 41.65, its highest level since October 2020, as recession worries grew. The so-called fear gauge was last seen at 72% versus 23.5 at the end of last week, according to LSEG data.
Asia-Pacific markets also continued to sell off overnight. Japan's Nikkei 225 fell 12.4%, marking its worst day since 1987. The Topix also fell 12.23%, while trading heavyweights Mitsubishi, Mitsui and Co, Sumitomo and Marubeni fell more than 14% .
The yen, meanwhile, rose to its highest level against the dollar since January, trading at 143.55.
Stock markets in Taiwan, South Korea, India, Australia, Hong Kong and Shanghai all fell./ Monitor
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