European markets slumped at the open

European markets are selling off at the open, with every major index sinking.

One bright spot is that mining giant Glencore's collapse on Monday hasn't continued - it's up by more than 5%, though that only erases a tiny proportion of the company's 29.42% crash.

The UK's FTSE 100 is down by 1.02% as of 8:20 a.m. UK time (3:20 a.m. ET).

Here's how the rest of Europe is doing

• Germany's DAX: -0.97%
• France's CAC 40: -1.13%
• Italy's FTSE MIB: -0.69%
• Spain's Ibex: -0.60%

Asian markets sold off heavily too - Hong Kong's Hang Seng is down down 3.17%, China's Shanghai Composite down 3.04%, and Japan's Nikkei closed down 4.05%.