Trade worries slumped European shares, outlook dimmed

On Thursday, the 15th of August 2019, a majority of European bourses fell to its six-month lows in a highly volatile trading session as London’s FTSE 100 shed more than 1 percent

by Sourav D
SHARE
Trade worries slumped European shares, outlook dimmed

On Thursday, the 15th of August 2019, a majority of European bourses had been anchoring around its six-month lows at a highly volatile trading session as London’s FTSE 100 shed more than 1 percent, while Beijing pledged to retaliate after Washington’s tariff hike on $300 billion worth of Chinese exports, suggesting an abrupt downturn of European stocks might persist amid no sign of shine on Sino-US trade warfare saga.

On Thursday’s (August 15th) market closure, the regional Pan-European STOXX 600 shed 0.3 percent after falling more than 1 percent to its lowest figure since February 11th, as some of its futures turned positive after strong retail sales data over the other side of Atlantic.

Addressing to China’s vow over a vociferous retaliation following a US tariff hike on $300 million worth of Chinese exports, a senior market analyst at Oanda, Craig Erlam said, “It’s the trade war which is driving markets right now.

The speed in which this trade war has ramped up in the past few weeks is considerable even by its own standards. Investors are just very sensitive to anything negative on trade. ” Citing statistics, FTSE 100 ended Thursday’s (August 15th) market with a tumbling of 1.13 percent to 7,067.01, while Frankfurt’s DAX dwindled 0.70 percent to 11,412.67 and French CAC 40 curbed 0.27 percent to 5,236.93 on Thursday’s (August 15th) market round off.

Elsewhere in Europe, money markets in Italy, Greece and Austria were closed due to a public holiday, while Madrid’s IBEX 35 closed Thursday’s (August 15th) market a penny down to 8,519.00.

Europe London
SHARE