- Title: European stocks tumble on trade war blows
- Date: 26th August 2019
- Summary: FRANKFURT, GERMANY (AUGUST 26, 2019) (REUTERS) STOCK EXCHANGE FLOOR VARIOUS OF TRADERS AT DESKS DAX INDEX BOARD TRADERS AT DESK DAX INDEX BOARD VARIOUS OF TRADERS AT DESK VARIOUS OF DAX INDEX BOARD TRADERS AT DESKS PAN OVER DAX INDEX BOARD (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "If the U.S. and China are at such loggerheads and are prepared to destroy the global economy with such malicious intent then it will be Europe and Germany who are the biggest losers. We are the exporting nation, but Europe is so small that we can't mediate. Nobody listens to us anymore. And as for the G7, to be honest, who needs it anymore!" VARIOUS OF TRADERS AT WORK DAX INDEX BOARD (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "I used to be into financial analysis, now I have to do psycho analysis. I have to find my way around the heads of various acting politicians and try to work out what they are doing. It has become massively difficult for me and my colleagues because at the moment we are experiencing a situation at the moment where global leaders are encouraging a global recession rather than trying to prevent one. This has never happened before, for me this is really a form of masochism." VARIOUS OF TRADERS AT DESK DAX INDEX BOARD (SOUNDBITE) (German) HEAD OF CAPITAL MARKET ANALYSIS AT BAADER BANK, ROBERT HALVER, SAYING: "As far as I can tell Brexit is now coming. The EU and Great Britain, the governments are absolutely divided. and if Trump now wants to offer Britain a wonderful, huge trade deal then it is clear to me that this Halloween at the end of October will be an especially notable day. The British will leave us without a deal and will pay a very big price for this." VARIOUS OF TRADERS DAX INDEX BOARD HALVER WALKING TRADERS AT DESKS DAX INDEX BOARD TRADING FLOOR
- Embargoed: 9th September 2019 10:09
- Keywords: DAX Frankfurt stock exchange
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Currencies/Foreign Exchange Markets,Economic Events
- Reuters ID: LVA001ATUUL59
- Aspect Ratio: 16:9
- Story Text: Technology stocks led a tumble in European equities in early deals on Monday (August 26) as investors fled from riskier assets after another exchange of blows by the United States and China over trade at the end of last week.
Frankfurt financial analysts expressed dismay at the turn of global financial events, saying it was unprecedented that leaders were seemingly pushing a global recession.
U.S. President Donald Trump on Friday hit back at a new round of Chinese tariffs by heaping an additional 5% duty on some $550 billion in targeted Chinese goods and demanded that U.S. companies move their operations out of China.
However, Trump appeared on Sunday to back off on his threat to order U.S. companies out of China.
Finance analyst Robert Halver also warned of big losses for Britain as a hard Brexit now seems inevitable.
The pan-European STOXX 600 index fell 0.51% by 0710 GMT, with trading volumes thinned out by a UK holiday.
German real estate stocks came under pressure after a report that Berlin's city government planned to cap rents. Deutsche Wohnen slid 3.8%, while Vonovia fell 1%.
(Production: Tanya Wood, Andy Buerger) - Copyright Holder: REUTERS
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