European stocks opened sharply lower on Monday, retreating for sharply for a second day after the surprising acceleration in U.S. inflation that was revealed by the Labor Department. The German DAX
DAX,
+1.43%
lost 1.2% and the U.K. FTSE 100
UKX,
+1.23%
fell 0.9%, as all of the major sectors lost ground in early action. Futures on the Dow Jones Industrial Average
YM00,
+1.20%
fell 428 points as the yield on the 2-year Treasury shot up a further 11 basis points to 3.18%.