European markets retreated Tuesday morning as concerns over the threat to economic recovery of new coronavirus cases in the U.S. and weak German data put the brakes on Monday™s rally.
The pan-European Stoxx 600 fell 0.7% at the start of trading, banks shedding 1.5% as all sectors and major bourses slid into negative territory.
European stocks have dipped below the mixed tone set in Asia Pacific overnight, where markets in South Korea and Japan retreated, while mainland Chinese shares continued Monday™s blockbuster rally.
German industrial production data came in weaker than expected on Tuesday morning, rising by 7.8% in May, a more modest rebound than the 10% expected by analysts polled by Reuters following a -17.5% contraction in April.
Source : CNBC
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