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The pan-European index STOXX 600 lost 1.5% in a day of strong operations, while the The highly sensitive German stock market hit a six-week low of 2.2%, After Trump warned China against waiting for the end of his term to conclude an agreement.
Car companies, sensitive to commercial developments, lost 2.3%but the Banks led declines among European sectors because of rising expectations around a reduction in interest rates.
The Federal Reserve concludes its monetary policy meeting on Wednesday and investors will be alert to whether an expected reduction of 25 basis points in rates will mark the beginning of a cycle of relief measures.
As more and more evidence shows the impact of the trade war on global growth, expectations that major central banks will adopt expansive measures have propelled global markets up since fall of may.
A series of weak economic data from France, Germany and the euro area as a whole has highlighted weak growth prospects, supporting the most cautious voices within the European Central Bank.
The fall of the British pound due to concerns about Brexit has not supported the British FTSE 100, which delivered 0.5%. Banks were a big drag then Centrica sank 19%, its minimum for more than two decades, and the the tobacco companies Imperial Brands PLC and British American Tobacco PLC have lost more than 4%.
The German chemical and pharmaceutical giant Bayer lost 3.7%, affected by trade disputes, and the Lufthansa airline fell by 6% after announcing a decline in profits in the second quarter.
On the other hand, the Paris stock market yielded 1.61% to 5,511.07 points; Milan fell 2% to 21,278.24 points; and Madrid lost 2.5%, 8,986.60 points.
To integrate
China is doing very badly, worst year out of 27 – was supposed to start buying our agricultural products now – nothing suggests the purchase. This is the problem of China, they just do not succeed. Our economy has become MUCH larger than the last three years in China ….
– Donald J. Trump (@realDonaldTrump) July 30, 2019
"The problem with their waiting … is that if and when I win, the agreement that they will have will be much more difficult than we are negotiating … or there will be will have no pact, "wrote Trump on Twitter early in the discussions. in Shanghai between the representatives of the two countries.
The delegations of China and the United States met Tuesday in Shanghai after three months of disruption to resume negotiations and try to end the trade war, but with little chance of achieving a according to the two powers.
The negotiations, which took place in the Chinese economic capital, are the first live since the failure of May, when US President Donald Trump accused Beijing of not meeting its commitments.
The US side is led by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin.
Wall Street fell from worry about the trade war
US stocks fell Tuesday after the warning that President Donald Trump addressed to China about trade negotiations has put pressure on the technology sector, while investors expected a cut in the interest rate at the close of the Federal Reserve meeting this week.
The industrial average Dow Jones lost 23.33 points, or 0.1%at 27,198.02 units; while the The S & P500 index lost 7.79 points, or 0.3%at 3,013.18 points. The Nasdaq yielded 19.72 points, or 0.2%, to 8,273.61 units.
"Technological stocks have weakened today, as Trump has dealt a new blow to China against trade"said Joseph Sroka, investment manager at NovaPoint in Atlanta. "Large multinational technology companies are very sensitive to trade and tariff issues with China," he added.
Market participants are also waiting for the Fed's statement at the end of its two-day monetary policy meeting on Wednesday to look for clues as to how the central bank will proceed until the end of the day. l & # 39; year. Many badysts have stated that A cut in interest rates of 25 basis points is already taken for granted.
Ministry of Commerce data show consumer spending and prices rose slightly in June in the United States, suggesting slower economic growth and stronger arguments for more expansive monetary policy .
More than half of the S & P 500 companies released their second quarter results and 75.9% exceeded badysts' expectations, according to Refinitiv data.
Procter & Gamble Co shares rose 3.8%, after exceeding quarterly sales expectations, limiting Dow Jones losses.
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