European Stocks Drop With Fed Concerns In Focus

European stock markets dropped at the open on Tuesday, as investors remained cautious ahead of the U.S. Federal Reserve’s policy meeting, which could signal a potential slowdown in the bank’s asset purchases.

A report in the Financial Times said on Monday that Fed Chairman Ben Bernanke is likely to signal the central bank is close to tapering its easing program. The Stoxx Europe 600 index lost 0.4% to 292.08, after climbing 0.7% on Monday.

Mining firms posted some of the biggest losses, as metals prices dropped across the board. Shares of BHP Billiton PLC dropped 1.4%, Rio Tinto PLC fell 0.8% and Anglo American PLC shaved off 0.7%. Among country-specific indexes, the U.K.’s FTSE 100 index dropped 0.2% to 6,317.53, while Germany’s DAX 30 index slipped 0.4% to 8,181.59. France’s CAC 40 index gave up 0.6% to 3,842.35.

Source : Marketwatch

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