Fri. Oct 30th, 2020

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European markets plunge

1 min read
European market down

European markets retreated Tuesday morning, pulling back from Monday’s rally with Brexit talks and the first U.S. presidential debate on investors’ radar.

The pan-European Stoxx 600 fell 0.5% in early trade, with banks shedding 1.3% to lead losses as all sectors except utilities slid into negative territory.

The cautious open follows mixed trading in Asia-Pacific overnight, where mainland Chinese and South Korean shares advanced while stocks in Hong Kong and Australia retreated slightly.

The U.K. and the European Union have indicated that a Brexit deal is still some way off after negotiations recommenced Monday over implementing their Withdrawal Agreement, which British Prime Minister Boris Johnson’s government has sought to renege on.

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