Stocks tumble amid earnings, trade uncertainty


European stocks opened lower Thursday, as investors digest fresh corporate results and keep an eye on global trade developments.

The pan-European Stoxx 600 slipped 0.6% at the opening bell, technology stocks plunging 2.6% while healthcare was the only sector in positive territory, climbing 0.2%.

European Markets: FTSE, GDAXI, FCHI, IBEX

Investors are staying across the latest earnings season, with a slew of companies reporting their results this week. On Thursday, SAP, Novartis, Publicis and Danske Bank are among the major corporates due to post earnings.

Also in focus is the U.S.-China trade spat. The Wall Street Journal reported Wednesday that trade negotiations between the world’s two largest economies are at an impasse over restrictions on Chinese tech giant Huawei.

Over in Asia, stocks fell after Japan reported a slide in exports in June, down 6.7% from a year earlier. The Nikkei 225 fell over 1%, while MSCI’s broadest index of Asian shares excluding Japan traded 0.2% lower.

In terms of data, U.K. retail sales figures for June are set to be released at 4:30 a.m. ET.


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