European stocks fall for first session in 3, following Wall Street's slide

Economies.com
2020-07-14 11:52AM UTC

European stocks fell on Tuesday, to head for the first daily loss in three, following sharp losses in Wall Street, due to renewed fears over a spike in US coronavirus cases and the US-China tensions.

 

The Stoxx Europe 600 index fell 1.2% as of 11:20 GMT, after closing higher by 1% yesterday, on hopes of new European stimulus measures.

 

The pan European index opened lower today, to head for the first daily loss in three, with most European markets and sectors seeing red today.

 

The tech sector saw the largest losses in Europe today, with a drop by 3%, following sharp losses in Wall Street..

 

S&P 500 futures fell more than 0.25%, after the index closed lower by 0.9% yesterday at Wall Street, as Nasdaq lost 2.3% after Amazon and Microsoft shares slumped.

 

California started on Monday to shutdown indoor operations at restaurants, movie theaters and bars in all counties due to the spike of coronavirus infections, following similar move in Florida and Texas.

 

The US has tightened its position and rejected China’s claims on marine resources in the South China Sea. While Beijing has condemned the move, saying it destroys stability in the region.

 

Back to Europe, the Euro Stoxx 50 index fell 1.4%, France's CAC 40 fell 1.6%, Germany's DAX fell 1.3%, and the UK's FTSE 100 lost 0.4%.

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