European stocks fall 0.8% as oil and bond yields rise

European equities extended their losses on Tuesday as the STOXX 50 fell 0.8% to levels not seen in nearly two months and the STOXX 600 declined 0.6% to three-month lows. Brent crude rose above $107 a barrel, adding to inflation concerns, while bond yields reached multi-year highs and pressured equity valuations and investor sentiment. Banks were among the weakest performers, with UBS down 3.6%, Deutsche Bank 3.5%, UniCredit 2.4% and HSBC 1.6%. LVMH fell 1.8%, L’Oreal declined 1.1% and Siemens lost 0.8%.