European equities trading sank to a two-and-a-half year low last month, as the summer holiday period and the wider economic uncertainty contributed to investors “almost looking for a reason” to avoid the markets.

The value of equities traded across Europe hit €616bn last month, according to data provided by Thomson Reuters. The figure was 12% down on July and 50% down on August last year, when volatility triggered by the US debt downgrade and the European sovereign debt crisis spiked activity to €1.2 trillion.