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UPDATE: European markets open lower after Asian markets' plunge

European markets opened lower following sharp declines in Asian markets Feb. 6 amid a deepening global selloff.

The FTSE 100 was down 2.12%, Germany's DAX fell 2.05% and France's CAC 40 slipped 2.08% as of 3:26 a.m. ET. The Euronext 100 was down 2.36%.

Meanwhile, Asian markets posted sharp declines Feb. 6 following a slide in U.S. equities, with the S&P 500 registering its largest loss in six years amid fears that rising inflation may lead to more aggressive rate hikes.

Japan's Nikkei 225 Index closed 4.73% lower to 21,610.24. Hong Kong's Hang Seng Index was down 5.02% to close at 30,626.41.

China's Shanghai Composite Index was down 3.35% to 3,370.65. This was the index's largest one-day fall since February 2016, Reuters reported.

Equity markets have been pummeled by a global selloff triggered by better-than-expected rises in U.S. jobs and wage growth Feb. 2, which has since heightened concerns that inflation is rising and will convince central banks to promptly raise interest rates. Analysts expect the market volatility to persist for some time, with some predicting the rout to reach its peak soon.

Ten-year U.S. Treasury yield rose as high as 2.885% on Feb. 5, its highest in four years and 47 basis points above the 2.411% seen at the end of 2017.