European Stocks Slide At Open
Faizan Hashmi Published May 29, 2020 | 12:58 PM
European stock markets opened sharply lower Friday on simmering China-US tensions over Beijing's planned national security law for Hong Kong
London, (UrduPoint / Pakistan Point News - 29th May, 2020 ) :European stock markets opened sharply lower Friday on simmering China-US tensions over Beijing's planned national security law for Hong Kong.
US President Donald Trump has called a news conference to outline his response later on Friday.
In initial deals, London's FTSE 100 index fell 0.9 percent to 6,164.64 points.
In the eurozone, the Paris CAC 40 index sank 1.1 percent to 4,719.44 points and in Frankfurt the DAX shed 1.4 percent to 11,622.41 points.
"Beijing has defied all US threats, and it has made it clear that China is going to have more control over Hong Kong because of a new security law," said Think Markets analyst Naeem Aslam.
"Donald Trump... appears poised to sign measures against China that would spur tensions further."The White House has already revoked the city's special status, potentially opening the way for it to be stripped of key trading privileges such as lower tariffs than mainland China.
The heightened tensions have largely overshadowed increasing signs that the coronavirus crisis is easing.
Related Topics
Recent Stories
Five killed, 1,351 injured in Punjab road accidents
President urges Australian companies to invest in Pakistan
Nazeer Tarar introduces (The Tax Law Amendment Bill 2024)
Spain PM under pressure as wife faces graft probe
UUVAS arranges seminar to commemorate Allama Iqbal
Vaccines save at least 154 million lives in 50 years: WHO
Young officers visit PID for briefing on govt principal public relations agency
RUDA takes stern action against pyrolysis plants, dismantles five
U.S. Secretary of State Blinken arrives in Shanghai
PM Shehbaz asked to extend hand to Imran Khan, India
BISE Hyderabad to announce HSC-Il result exams on April 25
ARI calls for comprehensive measures to curb tobacco use
More Stories From Business
-
Jam Kamal leads efforts to enhance IT Capacity for trade monitoring
2 hours ago -
SECP pushes adoption of IFRS 17 by Insurance sector
2 hours ago -
PSX turns bullish, gains 692 more points
2 hours ago -
RTO Peshawar makes historic seizure of illegal cigarettes worth Rs 162.6 mln
3 hours ago -
LCCI for deferment of SROs hurting businesses
3 hours ago -
Three schemes approved
3 hours ago
-
PCJCCI keen to boost Peach industry in Swat
3 hours ago -
Rupee sheds 02 paisa against dollar
1 hour ago -
IPO to celebrate World Intellectual Property day on 26th April
3 hours ago -
Iranian president's visit to help ensure mutual prosperity: state minister
4 hours ago -
Soyabean, palm oil imports grew 53.07%, 28.55% in 09 months
4 hours ago -
German forecast to offer signs if ailing economy on the mend
1 hour ago