EUROPEAN stock markets extended losses on Tuesday as investors dumped risky assets amid spreading economic gloom and after a deadly double bombing at the Boston Marathon, dealers said.
In late morning trade, London's benchmark FTSE 100 index of top companies slid 0.47 per cent to 6,313.70 points and in Paris the CAC 40 dipped 0.55 per cent to 3,690.01.
Frankfurt's DAX 30 sank 0.45 per cent to 7,677.11 points as dealers also digested news that German investor sentiment fell by more than expected in April.
"Mounting concerns about the global economic outlook and events in Boston have triggered a flight to quality," said RIA Capital Markets analyst Nick Stamenkovic.
"The dollar has benefited from its safe-haven status, with commodity prices losing ground."
In foreign exchange activity, the US dollar rebounded to 97.80 yen from 96.72 yen late on Monday in New York. The euro meanwhile edged up to $1.3053, from $1.3036.
Two explosions struck one of America's top sporting events Monday, killing at least three and wounding more than 100 at the Boston Marathon.
As cities from New York to Los Angeles went on high alert, traders took fright.
The news sent Wall Street's Dow Jones Industrial Average tumbling by 2.30 per cent amid a plunge in commodities like oil and gold.
Markets had already dived on Monday after news that the powerful Chinese economy slowed unexpectedly in the first quarter of 2013, and amid lingering gloom over the US economic outlook.
"A lot of the negativity in the markets is still stemming from the Chinese data from yesterday," Alpari analyst Craig Erlam told AFP.
"The fact that we're seeing a slowdown in the two largest economies does not bode well for those countries that are still in/close to recession.
"The Boston marathon bombing is just adding to the lack of risk appetite in the markets. With so much still unknown in relation to the bombing, including who is responsible for it, traders are likely to sit on the sidelines a little more today."
David White, analyst at trading group Spreadex, said that the bombings would have an overall muted impact on financial markets if it remained an isolated event.
"While a tragedy, the financial impact of the event, so long as it remains isolated, is negligible," he said.
Gold prices meanwhile recovered slightly after tumbling to a two-year low on the weak Chinese data and reports Cyprus was planning to sell part of its reserves.
In Tuesday deals on the London Bullion Market, gold stood at $1,376.82 per ounce, one day after plunging to $1,321.95 - the lowest level since January 2011.
The weak China outlook meanwhile continued to hit other commodities, with Brent oil sinking as low as $98 in Asian trading hours.
In company news on Tuesday, French luxury goods group LVMH, which owns brands such as Louis Vuitton, Givenchy and Guerlain, posted disappointing quarterly results.
The news sent LVMH's share price sliding 3.3 per cent in value to 126.95 euros in Paris deals.
Traders will later digest a barrage of results from key US companies including Goldman Sachs, Coca Cola and Johnson & Johnson.
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