European shares slump 2% on worries over China COVID surge


Source: brecorder.com brecorder.com

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Comments European stocks fell more than 2% on Tuesday, with commodity-linked sectors leading the losses, as concerns about surging coronavirus cases in China added to nerves ahead of a widely expected US interest rate hike. The pan-European STOXX 600 index fell 2.1%, giving up most of its gains amassed in the last two sessions when hopes of progress in Russia-Ukraine peace talks had lifted sentiment. European miners slumped 3.7% and oil & gas stocks dropped 2.9%, as crude prices shed almost 5% and industrial metals fell on concerns over demand from key consumer China following a surge in COVID-19 cases....