European shares drop in premarket trade

Wednesday, 13. November 2019 07:50

European stocks tumbled in premarket trade on Wednesday after United States President Donald Trump threatened with another escalation of the trade war with China.

During his speech in New York, Trump reiterated Beijing is "dying to make a deal" but did not offer the date or venue for the signing of the long-awaited phase one trade agreement.

On the data front, traders awaited inflation data for Germany, the UK, and the US.

The DAX fell 0.47%, the CAC 40 was down 0.34% while the FTSE 100 lost 0.41% at 7:45 am CET. At the same time, the euro was up 0.03% against the dollar, buying 1.10144 as the pound added 0.02% versus the greenback to go for 1.28555.

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