Thursday was another down day for European shares, which closed over 1% lower as analysts said that earnings are sending mixed signals.
Car makers shares were hammered after Daimler and Renault both cut their annual forecasts.
Daimler sank 9.6%, Fiat lost almost 5% and Peugeot Citroen just over 7% while Renault dropped 3.4%.
Energy companies lost ground as the price of crude oil continues to slide while miners fell as metals prices weakened.
Dutch mail company TNT plunged 16% after the Wall Street Journal reported that takeover talks with FedEx had ended.
One bright spot was Credit Suisse which surged 5.3% after posting forecast-beating earnings, but rest of the banking sector lost value.