It's a grim start to the week for European bourses, as APAC markets offered little in the way of optimism after Friday's poor form stateside.

FTSE 100 down 1.7%

Stoxx 50 down 1.4%

Stoxx 600 down 1.6%

Dax down 2.4%

Cac down 2.1%

Ibex down 2.5%

MIB 2.3%

**sad trombone noise**

It must be stressed that this isn't just European weakness, it comes amid a global sell-off in equities as investors fret over rapidly rising COVID-19 cases due to the Omicron variant and the impact of tighter pandemic-related curbs on the global economy.