European stock markets settled lower on Tuesday after U.K.'s Prime Minister Theresa May said Britain will break away from the European Union's single market and British lawmakers will be able to vote on Brexit's terms.

Europe's leading Blue-chip index, EURO STOXX 50 declined 9.49 points or 0.29 percent to settle at 3,285.04. UK's benchmark index FTSE 100 declined 106.75 points or 1.46 percent to close at 7,220.38.

Meanwhile, Germany's benchmark index DAX lost 14.71 points or 0.13 percent to end at 11,540.00. French benchmark index CAC 40 lost 22.49 points or 0.46 percent to end at 4,859.69.