European
stocks fell for the third time in four days, mirroring declines that
shook global equities in August, as they extended the worst start to a
year since 2000 amid a China-fueled selloff in mining and energy shares.
Europe’s
equities have tumbled 5.3 percent in the first four days of the year,
and companies with the most sales in the world’s second-biggest economy
are bearing the brunt. Anglo American Plc and Glencore Plc slid 8.3
percent or more today, pushing a gauge of miners to its lowest level
since 2009. Carmakers fell to to the lowest since October.
Stocks
around the world are in retreat as an eighth day of cuts in the yuan’s
reference rate exacerbated concern that growth in China is slowing more
than previously forecast. The declines are a setback for European equity
bulls who had speculated that central-bank stimulus and a slowly
improving economy would insulate the region from stress in Asia and
North America.
The
Stoxx Europe 600 Index fell 2.2 percent at the close of trading. It
pared losses of as much as 3.6 percent after China’s securities
regulator suspended the circuit-breaker that forced local exchanges to
shut early for the second day this week. Germany’s DAX Index lost 2.3
percent to 9,979.85, trading below 10,000 for the first time since
October.
Source: Bloomberg
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