Markets

European stocks fall on Donald Trump's comments

2019-07-17 12:30:06 GMT (Economies.com)

European stocks fell on Wednesday morning, on their way towards the first loss incurred during the last four sessions, after US President Donald Trump's comments about trade, which undermined investor sentiment, and led the energy sector lower which is already affected by the fall in oil prices in the global market.

 

As of 11:05 GMT, Stoxx Europe 600 index fell by more than 0.1%, while the index ended yesterday's session up by about 0.4%, its third daily gain in a row, hitting the highest level in a week, after a big jump in the British Burberry company shares.

 

Stoxx Europe Index fell on Wednesday morning for the first time in the last four sessions, giving up on the highest level in the week, with most major European markets and sectors in the negative region.

 

Most sectors related to the global trade movement have fallen, especially after recent comments by US President Donald Trump, which renewed fears about the US-China trade war.

 

Trump said on Tuesday that the United States still had a long way to go for a comprehensive trade deal with China, and additional Chinese goods worth $325 billion could be charged with tariffs if necessary.

 

The energy sector fell by more than 1.2%, leading the list of losing sectors in Europe, affected by the drop in oil prices over two days in the global market, especially after the easing of tensions around Iran.

 

S&P 500 futures fell by more than 0.1%, and the index ended yesterday's session down by 0.3%, in the first loss during the last six sessions, due to correction and profit taking, after posting in the previous session, a new record high at 3,017.80 points.

 

Euro Stoxx 50 index fell by 0.1%, with France's CAC 40 index falling by 0.1%, while in Germany, the DAX lost 0.1%, and in London, the FTSE 100 index fell by 0.2%.

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