European stocks slump on China

European stock markets slumped on Wednesday, mirroring the performance across Asia after China further devalued its currency and reported more poor data. "Once again, the investor sentiment has been hit hard by events happening in China," said Fawad Razaqzada, analyst at investment group Forex.com. Beijing's surprise devaluation of the yuan by 1.86 percent on Tuesday had already sent ripples through global financial markets, prompting a wave of selling in equities and commodities