

No results matched your search
MILAN (Reuters) - European shares fell sharply on Thursday after the arrest of a Huawei [HWT.UL] top executive fed worries over a fresh build-up in the Sino-U.S. trade war, hitting export-oriented tech and auto stocks.
Ericsson (ST:ERICb) and Nokia (PA:NOKIA) however outperformed, both trading up slightly in early deals, as the arrest the Chinese tech giant's CFO piled up pressure on their biggest rival and 5G powerhouse.
By 0817 GMT, the pan-regional STOXX 600 (STOXX) index fell 1.2 percent, marching towards the lowest level since December 2016 it hit during the sell-off seen over the last two months.
The export oriented DAX <.GDAX> index, which has also a big exposure to China and has been hit recently by concerns over a slowdown in the world's No.2 economy, fell 1.5 percent.
Auto stocks (SXAP) were the biggest sectoral fallers, down 2.7 percent at their lowest in more than 2 years, led by a 3.4 percent drop in German carmaker Daimler (DE:DAIGn).
Tech (SX8P) was also heavily sold off as declines in chipmakers offset gains in Ericsson. Huawei supplier STMicro <.STMicro> fell 4.2 percent.
Elsewhere, Diasorin (MI:DIAS) was the biggest faller on the STOXX 600, down 7 percent after Kepler Cheuvreux downgraded the Italian biotech company to hold from buy.
Are you sure you want to block %USER_NAME%?
By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.
%USER_NAME% was successfully added to your Block List
Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.
I feel that this comment is:
Thank You!
Your report has been sent to our moderators for review
Add a Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.