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European stock markets drop at open

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[LONDON] Europe's main stock markets ceded ground at the start of trading on Wednesday, after a string of losses elsewhere.

London's benchmark FTSE 100 index of major companies registered a decline of almost 0.6 per cent to stand at 7,381.27 points.

In the eurozone, Frankfurt's DAX 30 sank nearly 0.8 per cent to 12,456.82 points and the Paris CAC 40 dropped about 0.6 per cent to 5,414.15 compared with Tuesday's closing level.

Asian equities hit reverse gear, tracking fresh losses on Wall Street as investors fretted about rising US Treasury yields and speculation that interest rates will rise four times this year.

AFP

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