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London - European stocks fell, extending a decline that began the previous afternoon, as investors questioned the extent to which US President Donald Trump can deliver on growth policies that have been priced in since his election.
The Stoxx Europe 600 Index declined 0.8% at 10:28, heading for its worst back-to-back drop since January. Equities in Asia also tumbled, following the S&P 500’s biggest slide since October. Banks and miners led losses in Europe, as all industry groups except utilities fell.
“Even the mistiest-eyed optimist appears to be coming to the realisation that even on healthcare, where there is some form of consensus, reforms are likely to take a lot longer than realized,” CMC Markets analyst Michael Hewson wrote in a note.
“Any other programs like tax and banking reform and infrastructure spending are likely to get pushed further out into the future.”
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