European Stocks Slide as Investors Turn Cautious Before G-7
European Stocks Slide as Investors Turn Cautious Before G7
(Bloomberg) -- European stocks followed Asian peers lower as cyclical sectors including autos and mining dropped amid trade tensions ahead of the G-7 summit.
The Stoxx Europe 600 Index dropped 0.6 percent at the open. Investors are eyeing a potentially rocky summit of the G-7. President Donald Trump is set to find himself isolated from other leaders at the Quebec confab, with President Emmanuel Macron of France warning he will not sign the traditional joint statement unless progress is made on tariffs, and German Chancellor Angela Merkel promising to challenge Trump on the environment.
Vanguard FTSE Europe ETF, the biggest European equities-focused exchange-traded fund, had the worst outflow on Thursday in three months as the euro strengthened amid bets that European Central Bank officials will discuss the end of the bond-buying program at their June meeting.
To contact the reporter on this story: Ksenia Galouchko in Moscow at kgalouchko1@bloomberg.net
To contact the editor responsible for this story: Blaise Robinson at brobinson58@bloomberg.net
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