Popular Stories

European stocks skid after Fed minutes, with miners tumbling

European stocks slumped on Thursday, with mining stocks losing ground after minutes from the last Federal Reserve interest-rate-setting committee indicating it was soon going to start reducing the rate of bond purchases.

The Stoxx Europe 600 SXXP, -1.77% fell 2% to 464.82, in the first opportunity for investors in Europe to react to the Fed news.

Of the major regional indexes, the German DAX DAX, -1.64% skidded 1.8%, the French CAC 40 PX1, -2.48% slumped 2.9% and the U.K. FTSE 100 UKX, -1.82% slumped 2.3%.

The Stoxx Europe 600 basic resources index SXPP, -3.59% dropped nearly 5%. Futures on copper HG00, -3.11% and platinum PL00, -2.69% each fell nearly 3%.

The luxury-goods sector also was in retreat, on worries over China’s crackdown on the wealthy. Kering KER, -7.62% fell 8%, and LVMH Moet Hennessy MC, -4.92% dropped 5%.

U.S. stock market futures ES00, -0.57% also dropped.

View Article Origin Here

Related Articles

Back to top button