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Update: European shares sink after Wall Street retreats

European stocks traded sharply lower after falls on Wall Street.

The FTSE 100 Index was down 0.8% by 11:23 a.m. in London. The DAX Index slid 1.1% and the Stoxx 600 of European stocks fell 0.7%.

The falls came after the S&P 500 Index closed down 0.50% and the Nasdaq Composite Index slid 0.90% on Feb. 7. S&P 500 futures traded 0.1% lower.

Asian markets were mixed on Feb. 8, with China's benchmark index dipping after its trade surplus shrank to a one-year low and stocks in Japan and Hong Kong posting gains.

China's Shanghai Composite Index closed 1.43% lower at 3,262.05, as the country's yuan-denominated trade surplus narrowed in January year over year and foreign exchange reserves rose for the 12th straight month. The yuan dropped the most since August 2015, Bloomberg News reported.

Meanwhile, Japan's Nikkei 225 Index was up 1.13% to close at 21,890.86, after the country's current account surplus for full year 2017 rose 7.5% to ¥21.874 trillion, reportedly the largest surplus recorded since 2007.

Hong Kong's Hang Seng Index closed 0.42% higher at 30,451.27.