European markets slid

European markets pulled back Friday as investors monitor stalling U.S. fiscal stimulus talks and the rapidly approaching deadline for Brexit negotiations.

The pan-European Stoxx 600 fell 1.3% by late morning, telecoms shedding 3.1% to lead losses as all sectors and major bourses slid into negative territory.

British Prime Minister Boris Johnson said Thursday that there was now a “strong possibility” of the U.K. departing the EU orbit without a free trade agreement at the end of the month, with a deadline to extend talks falling on Sunday and the two sides remaining at odds on key issues.

With the U.K. already beginning to deploy the Pfizer and BioNTech Covid-19 vaccine, advisors to the U.S. Food and Drug Administration (FDA) on Thursday endorsed the shot for emergency use stateside, where cases and deaths have continued to spiral.

European markets look set for a mixed handover from Asia-Pacific, where investors continue to monitor ailing negotiations over fiscal stimulus in the U.S. There was little sign of progress Thursday as lawmakers seek to pass a bill before essential financial lifelines to Americans expire at the end of the year.

Avadoot Shah

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