European and US stock markets turned lower Monday as investors awaited key US data that could play a role in Federal Reserve deliberations ahead of an expected cut to interest rates next week.

Wall Street began the final month of the year on the back foot, with the blue-chip Dow sliding 0.6 percent.

Frankfurt led declines in Europe, falling by 1.1 percent while Paris was also lower and London was flat in afternoon trading.

Bitcoin extended its decline during European trading, sliding 5.6 percent to around $86,160 amid weaker risk appetite.

The cryptocurrency remains well below its record high above $126,200 struck in early October.

"Bitcoin tends to be a leading indicator for overall risk sentiment right now, and its slide does not bode well for stocks at the start of this month," sai

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