European stocks fall for second straight session as US-China trade talks come to a halt

2019-05-20 11:54:42 GMT (Economies.com)
European stocks fall for second straight session as US-China trade talks come to a halt

European shares fell on Monday morning in the first session of the week, continuing losses for the second session in a row, on the suspension of trade talks between the United States and China, especially as the US administration continues to tighten control over Chinese technology companies.

 

Stoxx Europe 600 fell more than 1.2% by 10:35 GMT, the index ended Friday's session down by 0.4%, the first loss in four sessions, on corrections and profit taking, after reaching the highest level in about two weeks during the previous session.

 

The index fell on Friday morning in the first session of the week, continuing losses for a second consecutive session, with most of the major stock exchanges and sectors in the red zone.

 

The technology sector led the list of losing sectors in Europe with a drop of more than 1.7%, under pressure from the growing global repercussions of Chinese technology companies.

 

Trade talks between the United States and China have been suspended over the weekend, especially after intense criticism by the US President Donald Trump over the Chinese technology companies, particularly Huawei.

 

Google has also suspended some future businesses with Huawei, while the German chip maker Infineon fell by about 3.5% after reports that the company has suspended pending shipments to Huawei.

 

Standard & Poor's 500 futures fell by 0.6%, as the index ended Friday's session down by also 0.6%, the first loss in four sessions.

 

Euro Stoxx 50 fell 1.3%. while in France, the CAC 40 index fell 1.2%. with Germany's DAX losing 1.2%. and London's FTSE 100 fell by more than 0.7%.

 
 
 
  Symbol Last Change Chg.%
1.1045
-0.0030
0.2704%
1.2523
0.0040
0.3224%
17.794
0.343
1.963%
58.702
3.808
6.938%
64.40
0.80
1.26%
1498.545
9.565
0.642%
 
 
US
 
Europe
 
Asia