China Spurs Rout in Europe Stocks Eclipsing Worst of Greece Saga
China Forces Biggest European Stock Decline of 2015
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Hopes for a quick recovery from the Greek trauma are being dashed in Europe’s stock market.
Dragged down by concern China’s currency devaluation will hurt exporters, the region’s shares suffered their worst single-day decline since October on Wednesday, with benchmark indexes in France, Germany and the Netherlands tumbling more than 3 percent. More than 7 billion euros ($7.8 billion) was erased in one stock alone, Unilever, after Goldman Sachs Group Inc. recommended selling it.