European stocks have pared earlier gains from opening levels

DAX

And just like that, the early optimism in the market is starting to turn into renewed fears after the slump that we saw yesterday. European equities are seeing gains vanish with bond yields also turning flatter on the session now.

USD/JPY is lingering near the lows at 110.53 while gold is creeping back above $1,650 amid the gradual softness in the risk mood to start the European morning.