Stoxx50 makes new low

Major stocks benchmarks continued to fall on Wednesday, pressured by rising government bond yields to their highest level since 2008.

European markets continued to weigh the costs of the energy crisis with gas prices jumping.

Concerns over slowing global growth and the perspective of a recession continued to increase with news of Apple dropping plans to increase iPhone production as demand softens.

From a technical perspective, stocks appear stretched in an oversold territory with momentum indicator RSI approaching 27.