French and German stocks dropped more than 3 percent after mixed US jobs data left markets guessing whether the US Federal Reserve will begin raising interest rates later this month.

The CAC 40 index in Paris fell 3.13 percent to 4,507.98 points in mid-afternoon trade, while in Frankfurt the DAX 30 which briefly dropped more than 3 percent, quickly climbed back to a loss of 2.80 percent at 10,029.26 points. The FTSE 100 in London dropped 2.21 percent to 6,057.39.