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[LONDON] The European Securities and Markets Authority (ESMA), one of the region's main regulatory bodies, raised its market risk indicator to its highest possible level on Monday.
"Overall, market risks for the European securities markets have increased," ESMA said in a new report that raised its market risk warning to "very high".
"This increase is due to high volatilities and fluctuating performances across asset classes - all of which translates into elevated risks for investors, market infrastructures and the financial system at large."
It added that the key risk sources were: "the improved but uneven economic outlook, ultra-low interest rates, the debt crisis in the euro area, funding patterns, and potential weaknesses in market functioning."