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European stocks on track for worst decline in six weeks on China trade concerns

November 20, 2019

European stocks were on track for their worst single-day performance in six weeks following concerns over the U.S.-China trade talks.

The Stoxx Europe 600 SXXP, -0.78% fell 0.54% to 403.32, its worst day since October 8.

The German DAX DAX, -0.84% dropped 0.68% to 13131.87, the French CAC 40 PX1, -0.63% weakened 0.63% to 5871.98. and the U.K. FTSE 100 UKX, -1.35% weakened 0.64% to 7276.84.

The U.S. Senate on Tuesday easily approved a bill to support human rights in Hong Kong, prompting China to threaten “strong countermeasures.” In addition, President Trump threatened to raise tariffs with China further if no deal is reached. The editor of China’s Global Times, who is closely followed by markets for his perceived links to China’s government, tweeted that “few Chinese believe that China and the U.S. can reach a deal soon.”

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