Europe Stocks Drop On Fears Of Syria Intervention

European stock markets moved lower in early action on Wednesday after U.S. President Barack Obama secured more support in Congress for a military strike in Syria.

The White House moved closer to an approval for a resolution on Tuesday as a range of congressional leaders, including House Speaker John Boehner, said they support the call for an intervention. The Stoxx Europe 600 index fell 0.2% to 301.29, adding to a 0.4% loss from Tuesday.

Shares of Ryanair Holdings PLC sank 14% after a profit warning. Banks were also lower, with shares of Banco de Sabadell SA down 1.4% and UniCredit SpA off 1.5%. Among country-specific indexes, the U.K.’s FTSE 100 index dropped 0.3% to 6,446.53, while France’s CAC 40 index lost 0.5% to 3,957.88. Germany’s DAX 30 index fell 0.1% to 8,170.32.

Source : Marketwatch

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