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Europe: Shares dip in thin holiday trade
[MILAN] European shares fell at the start of a holiday-shortened week on Monday as worries over slowing economic growth and tighter monetary conditions continued to weigh.
By 0812 GMT, Britain's FTSE 100 fell 0.6 per cent, while France's CAC and Spain's IBEX eased 0.7 and 0.5 per cent respectively. Germany's DAX and Italy's FTSE MIB were shut for Christmas Eve.
"Markets still under pressure from last week's more hawkish Fed update, exacerbating fears about slowing growth and more expensive refinancing following years of stimulus," said Mike van Dulken, Head of Research at Accendo Markets.
European shares are down 13.5 per cent so far in 2018 and are on track for their worst yearly performance since 2008, having fallen back to their lowest level since 2016 last week following a disappointing rate outlook from the US Federal Reserve.
Also dampening sentiment on Monday were worries over political stability in the Unites States after an aide to President Donald Trump said the partial government shutdown could continue into New Year.