Europe Markets: Europe stocks stumble as weak oil prices, trade worries weigh on investors

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European stocks fell Wednesday, tracking losses across global markets as oil prices fell and investors were filled with fresh uncertainty over a potential trade deal between the U.S. and China.

How are markets performing?

The Stoxx 600 SXXP, -0.50%  fell 0.5% to 378.74, after a 0.9% gain on Tuesday.

In Germany, the DAX DAX, -0.45%  fell 0.6% to 12,086.16, after a 1.3% climb Tuesday.

The U.K.’s FTSE 100 UKX, -0.75%  dropped 0.7% to 7,340, on the heels of a 0.5% gain.

Elsewhere, France’s CAC 40 PX1, -0.68%  fell 0.7%, nearly reversing a 0.8% gain Tuesday, while Italy’s FTSE MIB I945, -0.63%  dropped 0.7%, from a 0.9% gain the prior session.

The pound GBPUSD, +0.1651%   was flat at $1.2737, while the euro EURUSD, -0.0883%   slipped 0.1% to $1.132.

What’s moving the markets?

Renewed concerns over a U.S.-China trade deal damped enthusiasm for global equities after the Dow Jones Industrial Average DJIA, -0.05%  broke a 6-session winning streak. Trade-deal optimism had been building ahead of a Group of 20 meeting at the end of the month, but U.S. President Donald Trump admitted Tuesday he was “holding up” a deal between the countries.

Oil was the biggest losing sector in Europe, as heavily weighed companies tracked sharp falls in U.S. CLQ19, -2.65%  and Brent crude prices BRNQ19, -2.34% BRNQ19, -2.34%  , down over 2% each. That was after a report showing higher U.S. inventories and ahead of a key government report on supplies data due later. Total SA FP, -1.75%  fell nearly 2%, while BP PLC BP, +0.62% BP, -2.76%  

As well, investors were watching unrest in Hong Kong where thousands of protesters surrounded government headquarters on Wednesday, forcing the delay of a legislative session to vote on a bill that would allow criminal suspects in Hong Kong to be sent

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