European stocks drop amid cautious pre-Jackson Hole trading

The stocks on the European bourses opening the day on a weaker footing, bringing an end to a three-day winning streak, as markets traded on the back foot amid increased cautiousness ahead of the much-anticipated Fed Symposium.

The renewed selling in the European equities is driven by heavy losses seen in the mining and health care stocks amid poor corporate news, while persisting oil prices weakness weighed on the resource and energy stocks.

Sentiment also remains sour as the European traders were left unimpressed by a mixed close on the Asian equities, especially with the Chinese stocks hitting monthly lows on regulatory curb concerns.

Meanwhile, Germany's DAX 30 index drops -1.33% to 10,480, while the UK's FTSE 100 index trades -0.77% lower at 6,784. Among the other indices, the French CAC 40 index dives -1.22% to 4,381, while the pan-European Euro Stoxx 50 index declines -1.10% to 2,975.