European markets trade lower; DAX slips 1%

According to the media reports, US President Donald Trump blamed the World Health Organization for getting “every aspect” of the coronavirus pandemic wrong and threatened to withhold funding from the international organization.

Apr 08, 2020 09:04 IST India Infoline News Service

European shares dipped as the number of coronavirus deaths rose in Spain and France. The pan-European Stoxx 600 slipped in the early trade, with oil and gas stocks trading with losses, while the tech sector edges 0.3% higher.

DAX slipped 1%, while FTSE and CAC slipped nearly 2% each in today’s trade.

According to the media reports, US President Donald Trump blamed the World Health Organization for getting “every aspect” of the coronavirus pandemic wrong and threatened to withhold funding from the international organization.

Shares of Tesco slumped after the company said it expected to take a hit of up to 925 million pounds ($1.1 billion) from coronavirus-related costs.

The euro and Italian bonds took a hit after European Union officials struggled to reconcile contrasting visions for the steps needed to help their economies recover from the pandemic, while core regional debt gained, the media statement added.

Further, the Australian dollar slipped after S&P Global Ratings cut the country’s credit-rating outlook to negative from stable.

Related Story