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The chart of the German DAX stock index on the Frankfurt Stock Exchange
March 15 (Archyde.com) – European stock markets fell on Tuesday, with commodity-linked shares hit by concerns over rising coronavirus cases in China, while jitters ahead of the Federal Reserve meeting This week’s United States added to the pessimism.
The pan-European STOXX 600 index was down 1.3% by 0813 GMT, with mining, travel & leisure and oil & gas posting losses of between 1.4% and 3.2%.
Crude prices plunged nearly 5% and industrial metals fell on concerns regarding the economic fallout from rising COVID-19 cases in top consumer China. [O/R] [MET/L]
Swedish company H&M, the world’s second-largest fashion retailer, fell 3.2% following posting quarterly sales growth in line with expectations.
Tobacco and nicotine products maker Swedish Match fell 6% following it said it had decided to suspend plans to spin off and list its US cigar business.
Dutch tech investor Prosus, which has a stake in Chinese firm Tencent, fell another 7.2% amid continued weakness in Chinese tech stocks.
(Reporting by Sruthi Shankar in Bengaluru; Subhranshu Sahu edition, translated by José Muñoz in the Gdańsk newsroom)
