European stocks in correction territory after Russia attacks Ukraine

European stocks plunged 3% on Thursday as investors dumped riskier assets after Russia attacked Ukraine, raising fears that a war in Europe will fuel higher inflation and derail economic growth.

The pan-European STOXX 600 index fell 2.9% - hitting its lowest since May 2021 while marking a correction or 10% decline from its January record high.
 

The German DAX fell 3.7% to March 2021 lows, bearing the biggest brunt of the sell-off on fears over the country's heavy reliance on energy supplies from Russia.

A surge in oil prices helped limit losses on the UK's commodity-heavy FTSE 100, which fell 2.4%.

Russian forces