US Markets

European shares dip as global growth worries persist

Credit: REUTERS/ALESSANDRO GAROFALO

European shares were slightly lower on Wednesday, as a weak growth outlook from Germany and China stoked fears of a global slowdown, overshadowing a temporary U.S.-China tariff truce.

For a live blog on European stocks, type LIVE/ in an Eikon news window

Aug 14 (Reuters) - European shares were slightly lower on Wednesday, as a weak growth outlook from Germany and China stoked fears of a global slowdown, overshadowing a temporary U.S.-China tariff truce.

The pan-European STOXX 600 index .STOXX fell 0.2% by 0710 GMT, with all major indices in the red.

U.S. President Donald Trump's administration delayed imposing a 10% tariff on certain Chinese products, including laptops and cell phones, beyond September on Tuesday, providing battered equity markets world-wide some relief.

However, weak industrial data from China and a contraction for export-reliant German economy - Europe's largest - in the second-quarter was a reminder that the impact of the drawn out trade war between the United States and China is far from over.

In corporate news, shares of Swiss elevator and escalator manufacturer Schindler SCHP.S fell 4.3% after it reported a 22% dive in second-quarter profit, dented by wage inflation, higher material costs, foreign exchange, and planned higher costs.

(Reporting by Agamoni Ghosh in Bengaluru; Editing by Bernard Orr)

((Agamoni.Ghosh@thomsonreuters.com; +918067491130))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Reuters

    Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at Reuters.com and via Reuters TV.

    Learn More