Markets

European stocks fall for third straight session

2020-01-14 12:42:51 GMT (Economies.com)

European stocks fell on Tuesday, to deepen losses for the third straight day, on profit taking from record highs, amid the market anticipation for the details of the phase-one trade deal between the US and China.

 

Stoxx Europe 600 fell 0.3% as of 11:44 GMT, after it closed lower by 0.2% yesterday, on profit-taking from its all-time high of 421.43 points.

 

The index opened today's session lower, heading to the third straight daily loss, as most of the major European exchanges and sectors fell today.

 

The Chinese Vice Premier Liu He headed a delegation that arrived in Washington today, to sign the phase-one trade deal on Wednesday at the White House with President Donald Trump's administration.

 

The deal end the more than 18 months old trade war between the world's two largest economies, but the contents of that deal have not been revealed yet, amid anticipation in the global markets for the details of this agreement.

 

The US Treasury Department on Monday removed its designation of China as a currency manipulator, in the latest positive measures.

 

S&P 500 futures lost 0.3% today, after closing higher by 0.7% yesterday at Wall Street, and posted the third daily gain and the all-time record of 3,288.14 points.

 

Back to Europe, the Euro Stoxx 50 index lost 0.4%, France's CAC 40 fell by 0.35%, Germany's DAX shed 0.2%, and In London, the FTSE 100 index fell by 0.3%.

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