European stocks fall for second straight session

Economies.com
2020-09-11 11:16AM UTC

European stocks fell on Friday, to head for the second straight daily loss, as the tech stocks selloff was renewed on Wall Street, in addition to risk-aversion due to rising odds for the UK to leave the EU without a deal.

 

The Stoxx Europe 600 index fell 0.1% as of 10:25 GMT, after it lost 0.6% yesterday, following the European Central Bank's decision to hold the interest rate and after its President Christine Lagarde said that the current stimulus measures are sufficient.

 

The index fell today as the week wraps up, to head for its second straight loss in 3 sessions, with most of the major European markets and sectors seeing red.

 

The banking sector saw the largest losses in Europe today, dropping about 1.3%, while the household products sector rose 0.7%.

 

The European Union on Thursday urged the British government not to renege on the Brexit deal it signed and threatened to take legal action, but UK's Prime Minister Boris Johnson appears to be pushing forward in that direction.

 

S&P 500 futures rose more than 0.5%, after the index closed lower by 2% yesterday at Wall Street, and posted its fourth loss in 5 sessions, due to huge selloff move in the tech sector.

 

Back to Europe, the Euro Stoxx 50 index fell 0.2%, France's CAC 40 fell 0.1%, and Germany's DAX fell 0.2%, while the UK's FTSE 100 rose 0.4%.

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