European stocks fall as growth concerns dominate the market

European stocks fell on Monday, under the impetus of the banks, as the continuation of the US-China trade war could tip the global economy into recession, prompting investors to buy safer badets.

Adding to pessimism around the world, the protests in Hong Kong were exacerbated by a collapse of the Argentine peso.

The pan-European STOXX 600 erased its initial gains, closing down 0.3%, extending its 1.7% loss last week, amid worries over mounting trade tensions and political turmoil in Italy. attracted him.

Last weekend, Goldman Sachs warned of growing fears that a trade war would lead to a recession and that a trade deal would be unlikely before the US presidential election. 2020 that pushed investors to take refuge in shelters such as yen, gold and bonds.

Bank stocks led the market down, with the sector index falling 1.8% to its lowest level in more than three years.

Among the main European indices, the Spanish stock index was the main loser. It fell 0.9% after Credit Suisse said that the sensitivity of Spanish banks to interest rates and the lack of a clear vision called for a more cautious attitude, which added to the pessimistic atmosphere.

Among the losers, the miners also pushed the core resource index down 0.4% as prices for iron ore and copper dropped.

British Tolo Oil stocks withstood the market trend with a 20% jump after announcing a major oil discovery at Gianna.

(Reuters)