Europe: Stock markets slide at open
Add BT as a preferred source
[LONDON] Europe's main stock markets dropped 0.7 per cent in opening deals on Monday, as investors worried over the festering global trade war.
London's benchmark FTSE 100 index of major blue-chip firms fell to 7,629.01 points compared with Friday's closing level.
In the eurozone, Frankfurt's DAX 30 reversed to 12,497.48, while the Paris CAC 40 declined to stand at 5,350.96 points.
Asian stocks also dipped after US President Donald Trump threatened fresh tariffs on European cars, and amid reports he is mulling curbs on Chinese investment the US.
The news persuaded many investors to dump equities, which are widely regarded as a risky asset in times of economic uncertainty.
"Markets start the week on a risk-off tone after President Trump threatened to impose tariffs on imported cars from Europe - and he is now planning to curb Chinese investments in 'sensitive' US industries," said Konstantinos Anthis, head of research at trading firm ADS Securities.
He added: "Trump's threats to curb Chinese investments in the US are casting doubts on the prospects of the US economy and investors are starting the week with limited appetite.
"Nevertheless, after a few days in the red global stocks are hoping for a reason to rally."
AFP
Share with us your feedback on BT's products and services
TRENDING NOW
‘I felt like dying’: Thai Singha beer scion speaks up after disclosure of alleged sexual abuse
In a world of long-drawn crises, ‘wait and see’ may be a decreasingly tenable stance
SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares
The returnees: Inside China’s AI talent reversal
