European stocks fell on Wednesday (August 20), with the Stoxx 50 down 0.4% and the Stoxx 600 down 0.3%, led by defense stocks. The Stoxx Europe Aerospace & Defense Index fell 0.9% after a 2.6% drop on Tuesday, as optimism over a Ukraine ceasefire weighed on the sector.
Germany's Rheinmetall and Hensoldt each fell nearly 2%, while Britain's Rolls-Royce and Qinetiq also fell around 2%. The declines followed US President Trump's call for Putin and Zelenskiy to show "flexibility" and hold a bilateral summit, raising speculation of a breakthrough in peace talks.
Elsewhere, UK inflation unexpectedly rose to 3.8% in July, while broader global markets stalled after hitting record highs. A sharp sell-off in heavyweight technology stocks raised concerns that the rally since April has overshot. Investors are now looking ahead to the Jackson Hole Symposium, where Fed Chairman Jerome Powell is scheduled to speak on Friday. (alg)
Source: Trading economics
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