China Triggers A Tumble In Europe - by Vidya Ram
China caught a cold and Europe sneezed on Wednesday. Beijing's decision to triple its excise tax on securities transactions sent the Shanghai stock market down more than 6%, and European equity indexes subsequently lost about 1% of their value in midday trading.
“It's just a straightforward reaction to what happened in Asia, particularly in China,” said Mike Lenhoff, chief strategist at Brewin Dolphin Securities.
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