Markets

European stocks fall for first session in 4 on US-China trade war concerns

2019-06-12 12:10:57 GMT (Economies.com)

European shares fell on Wednesday morning for the first time in four sessions, on correction and profit-taking from the highest level in five weeks, as well as the renewed fears about the possibility of an esclation of the trade war between the United States and China.

 

Stoxx Europe 600 fell by more than 0.4% at 10:59 GMT, while the index ended yesterday's session up by 0.3%, its third consecutive daily gain, hitting its highest level in five weeks, led by the strong rally of the German market and the support of incentive measures In China.

 

The Index fell on Wednesday morning for the first time in four sessions on correction and profit taking from the highest level in five weeks, with most of the major bourses and sectors in the negative region.

 

The energy sector led the list of losing sectors in Europe with a drop of more than 1.5% due to the fall in oil prices for the third day in a row in the global market, while also the sectors linked to the global trade declined.

 

US President Donald Trump defended tariffs on Tuesday as part of his trade strategy, and China vowed to respond harshly if Washington insisted on escalating trade tensions.

 

S&P 500 futures fell more than 0.3%, and the index ended yesterday's session on Wall Street stable with little change, after strong gains continued for six consecutive sessions.

 

Euro Stoxx 50 fell by 0.4%, while in France, the CAC 40 index fell 0.55%, with Germany's DAX losing 0.45%, and London's FTSE 100 fell 0.6%.

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