Europe Tracks U.S. Lower On Debt Ceiling Concerns

European stock markets opened broadly lower on Wednesday, tracking prior-day losses in the U.S., where discussions about raising the debt ceiling weighed on sentiment.

Moody’s Investors Service warned that a failure to raise the debt limit would result in a worSe outcome for financial markets than a government shutdown. The Stoxx Europe 600 index dropped 0.2% to 312.63. Shares of Nordea Bank AB dropped 2.8% after the Swedish government said it is selling its remaining 7% stake in the bank.

Shares of ThyssenKrupp AG climbed 4.3% after European investor Cevian Capital said it has acquired a 5.2% stake in the German steelmaker. Among country-specific indexes, Germany’s DAX 30 index fell 0.4% to 8,626.32, while France’s CAC 40 index slid 0.4% to 4,180.91. The U.K.’s FTSE 100 index gave up 0.3% to 6,554.58.

Source : Marketwatch