Italy drags European markets lower; Norsk Hydro shares rise 5%
The pan-European Stoxx 600 was down almost 1 percent during lunchtime deals, with almost all sectors and major bourses in negative territory. Asian shares dipped broadly after China's PBOC said it would cut the amount of cash that banks are required to hold as reserves. European markets were lower Monday afternoon, as investor confidence took a knock from last week's spike in Treasury yields.