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MARKETS-EUROPE-OPEN
European stocks drop at open before China-US talks
LONDON, May 9, 2019 (BSS/AFP) – European stock markets sank in opening
trade on Thursday, as investors fretted ahead of high-stakes trade talks
between China and the United States.
London’s benchmark FTSE 100 index shed 0.6 percent to 7,224.83 points.
In the eurozone, the Paris CAC 40 index dropped 1.1 percent to 5,358.10
points and Frankfurt’s DAX 30 slid 0.7 percent to 12,098.02, compared with
Wednesday’s closing levels.
This week’s crucial two-day trade meeting in Washington, which kicks off
later Thursday, has taken on huge significance after US President Donald
Trump threatened to ramp up tariffs on Chinese goods from Friday blaming
backsliding by Beijing.
“The coming hours will be absolutely crucial for markets,” said FXTM
analyst Han Tan.
“The paramount question of the day is — can the US and China strike a
trade deal by midnight Friday in Washington, or will heightened tariffs kick
in?”
BSS/AFP/HR/1455