European stock markets fell Wednesday as global sentiment was pulled down by a U.S. credit rating downgrade.
The pan-European Stoxx 600 index closed 1.35% lower, with all sectors and bourses in negative territory. Mining and retail stocks were the biggest downward pressures on the index, both down around 2.7%.
EUROPEAN MARKETS
| TICKER | COMPANY | PRICE | CHANGE | %CHANGE |
|---|---|---|---|---|
| .FTSE | FTSE 100 | 7512.47 | -49.16 | -0.65 |
| .GDAXI | DAX | 15852.55 | -167.47 | -1.05 |
| .FCHI | CAC 40 Index | 7239.82 | -73.02 | -1 |
| .FTMIB | FTSE MIB | 28639.51 | -335.03 | -1.16 |
| .IBEX | IBEX 35 Idx | 9284.6 | -44.1 | -0.47 |
Fitch Ratings cut the United States’ long-term foreign currency issuer default rating Tuesday, pointing to “expected fiscal deterioration over the next three years.”
U.S. stocks were sharply lower after the downgrade, while Asia-Pacific markets tumbled Wednesday morning on the news — though economists suggest the fallout may be limited.
Investors also continued to digest earnings, which came in from firms including BAE Systems, Ferrari and Taylor Wimpey.
Euro zone inflation data beat expectations Monday, new growth figures showing economic activity picking up in the second quarter of this year.
Source: Consumer News Business Channel
