European markets mostly lower as global sentiment remains choppy - CNBC

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European stocks were mostly lower on Tuesday amid volatile sentiment in global markets.

The pan-European Stoxx 600 hovered 0.1% below the flatline by late morning, having been down as much as 1.2% in early deals. Basic resources fell 1.8% while 0.8%.

The muddled trade in Europe on Tuesday come after a choppy period for global markets, as investors monitor the outlook for inflation, supply chain issues, bond yields and central bank policy.

European stocks were muted during the trading session on Monday, searching for direction after a volatile week. U.S. stocks fell on Monday as investors looked at surging oil prices, economic worries and major earnings results ahead. Stock futures declined slightly in early premarket trading on Tuesday, indicating further losses on Wall Street.

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Investors are bracing for a slew of U.S. earnings, with major banks revealing third-quarter results this week; JPMorgan Chase, Goldman Sachs, Bank of America, Morgan Stanley, Wells Fargo and Citigroup are all due to report, starting Wednesday.

Overnight, shares in Asia-Pacific tumbled on Tuesday, with major indexes from Japan to Hong Kong falling at least 1%.

Investors in the region were keeping a close eye on oil prices, which slipped in Asia trading hours, taking a pause following a recent surge above $80.

International benchmark Brent crude futures was last seen at $83.56 per barrel, while U.S. crude futures sat at $80.48 per barrel.

On the economic data front, the U.K. added 207,000 jobs in September, official figures showed on Tuesday, taking British employers' payrolls to a record high as the end of the government's furlough program draws near.

Germany's latest ZEW survey of economic sentiment fell for the fifth consecutive month, the institute reported on Tuesday, as supply bottlenecks continued to weigh on Europe's largest economy. The index fell to 22.3 points, below an estimate of 24.0, while current conditions sentiment plunged to 10.3 points to 21.6 against a consensus forecast of 28.5.

In terms of individual share price movement, London-based fintech company Wise dropped 7.5% by late morning trade, while at the top of the Stoxx 600, German software company TeamViewer gained 7%.

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- CNBC's Eustance Huang and Yun Li contributed to this market report.

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