Europe Stocks Drop As Cyprus Worries Persist

European stock markets extended losses at the open on Tuesday, amid worries over the bailout plan for Cyprus, including a controversial levy on bank deposits.

A vote on the bailout measures was scheduled for later Tuesday, but there had been rumors that the vote could be postponed to later this week.

The Stoxx Europe 600 index dropped 0.3% to 295.96, with mining firms posting some of the biggest losses. Shares of Rio Tinto PLC lost 3.1%, while Anglo American PLC fell 1.6%. The U.K.’s FTSE 100 index traded 0.3% lower at 6,439.41. Germany’s DAX 30 index shaved off 0.4% to 7,979.51, while France’s CAC 40 index dropped 0.3% to 3,814.80.

Marketwatch

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