The European STOXX 600 index closed down 1.1 percent, touching the lowest level in three weeks and recording the largest drop in one day since April 16.
All major stock exchanges in the region recorded a sharp decline, with the French CAC 40 index and the Italian index topping losses, with each falling approximately 1.5 percent.
German ten-year bond yields rose to the highest level in more than six months and the latest transactions rose at 2.685 percent after inflation in Germany increased to 2.8 percent in May, an increase slightly more than expected. German bonds are the standard bonds on the European continent.
Concerns about major central banks keeping interest rates high for a longer period affected global markets, as ten-year US Treasury bond yields touched their highest level in four weeks, and Wall Street stocks also fell.
All major sectors in the STOXX 600 index recorded losses, and the basic resources and utilities sectors were among the worst performing sectors, as each of them fell about two percent.
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