European stocks sink to near 2-year lows
|European equity markets remained under some intense selling pressure on Tuesday and fell to their lowest level in nearly two years.
Rising geopolitical tensions, following the US President Donald Trump's threat to pull out of the US-Russia nuclear arms agreement and Saudi Arabia's diplomatic isolation, dampened investors' appetite for riskier assets - like equities.
This coupled with worries about Italy's debt situation, trade war fears and Brexit uncertainties exerted some additional downward pressure and further collaborated to a strong bearish bias through the mid-European session.
Further collaborating to the ongoing slump was a disappointing batch of third-quarter results, particularly in the tech sector, which has been a key driver of stock markets and is currently down nearly 4% for the day.
Today’s downfall comes on the back of heavy losses of around 2% in Asian equity markets and marks the fifth day of consecutive declines in the European shares.
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