Investing.com – European stocks slid on Tuesday after a flurry of weak data from the euro zone, erasing earlier gains.
During European morning trade, the EURO STOXX 50 was down 1.48%; France’s CAC 40 fell 1.32%; and Germany's DAX was down 1.29%.
In London, the FTSE 100 fell 1.19% as shares in the United Kingdom’s biggest retailer, Tesco, fell 1.5% after the announcement that Chief Executive Officer Terry Leahy will retire next March.
The losses came after the U.S. Federal Reserve chairman, Ben Bernanke, said late Monday that given the depth of the recession, the U.S. recovery is “moderate paced.”
The Fed chief added that European policy makers “are committed to avoiding default in Greece” and elsewhere.
The outlook for U.S. equity markets, meanwhile, was dim: Dow Jones Industrial Average futures indicated a loss of 0.08%, S&P 500 futures pointed to a fall of 0.11% and Nasdaq 100 futures indicated a decrease of 0.07%.
Later Tuesday, two members of the Federal Reserve's Federal Open Market Committee, Elizabeth Duke and Thomas Hoenig, were due to speak at public engagements. Traders were likely to scrutinize their comments for clues to shifts in future monetary policy.
During European morning trade, the EURO STOXX 50 was down 1.48%; France’s CAC 40 fell 1.32%; and Germany's DAX was down 1.29%.
In London, the FTSE 100 fell 1.19% as shares in the United Kingdom’s biggest retailer, Tesco, fell 1.5% after the announcement that Chief Executive Officer Terry Leahy will retire next March.
The losses came after the U.S. Federal Reserve chairman, Ben Bernanke, said late Monday that given the depth of the recession, the U.S. recovery is “moderate paced.”
The Fed chief added that European policy makers “are committed to avoiding default in Greece” and elsewhere.
The outlook for U.S. equity markets, meanwhile, was dim: Dow Jones Industrial Average futures indicated a loss of 0.08%, S&P 500 futures pointed to a fall of 0.11% and Nasdaq 100 futures indicated a decrease of 0.07%.
Later Tuesday, two members of the Federal Reserve's Federal Open Market Committee, Elizabeth Duke and Thomas Hoenig, were due to speak at public engagements. Traders were likely to scrutinize their comments for clues to shifts in future monetary policy.