European shares finished Tuesday session in the red, amid fears of a looming crisis in emerging markets and trade tensions between the U.S. and major economies.
U.S.-China trade tensions remained in focus ahead of imminent U.S. tariffs on Chinese imports as early as this week. Meanwhile, talks between U.S. and Canadian negotiators will resume on Wednesday after they failed to reach an agreement last week.
The pan-European STOXX 600 fell by 0.70 percent to a two-month low to close the session at 379.83, pressured by Technology, Basic Materials and Consumer Cyclicals sectors.
The Euro fell against the Greenback to trade at 1.1576, and it advanced against the Japanese Yen and Swiss Franc to trade at 129.03 and 1.1288 respectively, at 18:00 GMT.
UK shares traded on lower territories on Tuesday, down by 0.62 percent or 46.74 points to close the session at 7,457.86, pressured lower by losses in the Technology, Basic Materials and Telecommunications Services sectors.
In economic news, Bank of England Governor Mark Carney signaled Today that he was willing to stay on as the institution’s chief to ease the U.K. through its divorce from the European Union. Carney confirmed reports that he had spoken to British Finance Minister Philip Hammond about it, saying: “I would expect an announcement to be made in due course.”
Meanwhile, U.K. like-for-like sales higher by 0.2 percent year-on-year in August, figures from the British Retail Consortium and KPMG showed. Total sales rose by 1.3 percent annually.
In stocks news, Whitbread PLC was the top performer after its stock added 2.60 percent followed by Barclays PLC which rose by 1.79 percent.
On the other hand, WPP PLC was the worst performer as its share tumbled by 6.27 percent followed by Berkeley Group Holdings PLC which fell by 4.36 percent.
German shares fell on Tuesday where market’s main index DAX30 declined by 1.10 percent or 136.20 points to end the session in the red at 12,210.21 due to the losses across all sectors.
In movers, Commerzbank AG was the biggest gainer in the index as its share gained 1.63 percent followed by Deutsche Bank AG, where it rose by 0.64 percent.
On the flip side, Adidas AG was the worst performer after it declined by 2.41 percent, while Henkel AG & Co KgaA was the second-worst performer where its stock dropped by 2.30 percent.
French shares prices declined on Tuesday, with its leading index CAC40 losing 1.31 percent or 71.100 points to close at 5,342.70, pressured by declines in Basic Materials, Consumer Cyclicals, and Industrials sectors.
In movers, Accor SA was the top performer after it added 1.85 percent followed by Credit Agricole SA which rose by 1.65 percent.
On the other hand, LVMH Moet Hennessy Louis Vuitton SE was the worst performer as its share tumbled by 3.51 percent.