European shares extend losses; banks, miners weigh

European shares fell further late on Tuesday, tracking losses in the U.S. market, as mining stocks declined on weaker metal prices and banks slipped on persistent concerns about the financial sector's health.

By 1526 GMT, the pan-European FTSEurofirst 300 index was down 2.7 percent at 836.15 points after hitting a session low of 834.18 points. The benchmark has lost more than 44 percent this year, hurt by a credit crisis.

Shares in BHP Billiton, Anglo American, Vedanta Resources, Lonmin, Kazakhmys, Xstrata, Antofagasta and Rio Tinto fell between 3.8 and 8.3 percent.

Among banks, HBOS was down 15 percent, Royal Bank of Scotland lost 14 percent and Dexia shed 16.6 percent.