The Stoxx Europe 600 index fell 1.4%, its biggest drop since May 24.

Saudi Arabia also raised the price of Arab medium and heavy crude oil sold to Asia in August.

Saudi Arabia raised the official selling price of Arabian Light crude oil sold in Asia in August by 20 cents per barrel.

Nigeria plans to boost crude output to at least 1.5 million barrels per day by October.

The Baltic Dry index fell 0.1% to 993 points.

Bank of America: Raise Tesla (TSLA.O) target price to $300 from $225.

The British government has appointed Martin Harris as its ambassador to Ukraine, starting in September.

U.S. stock Polestar Auto rose more than 5% before the market.

Stuart Cole, chief macroeconomist at Equiti Capital: We may have seen the technology industry lay off most of the "at risk" employees, so I expect further tightening by the Fed to have a greater impact on other areas of the US economy.

Polestar plans to deliver 60,000 to 70,000 vehicles in 2023, delivered about 15,800 vehicles in the second quarter, and delivered about 27,900 vehicles globally in the first six months of this year.

Employment data firm challenger: U.S. employers announced plans to add 115,462 jobs so far in 2023, the lowest level since the first half of 2016, when 76,751 new workers were hired. Recreation/leisure added the most jobs at 20,012, an 82 percent decrease from 111,475 in the same period in 2022. The tech industry followed suit, hiring 14,423 this year, a 61% drop from 37,093 a year earlier.

Russian Security Council Secretary Patrushev: Threats from NATO to Russia are increasing.

Employment Data Firm Challenger: So far this year, the top reason for layoffs has been market/economy conditions, with 216,693 people laid off as a result. Another 55,088 were laid off as businesses cut costs and 54,864 were made redundant due to closed stores, units or departments. There were 9917 people who resigned voluntarily.

The U.S. dollar index DXY fell back below 103, down 0.35% on the day.

The German coalition will bring the heating bill to the Bundestag in September.

US Geological Survey: 5.9-magnitude earthquake hits Bareny Islands area.

The United States is expected to supply Ukraine with cluster munitions, according to The New York Times.