European Stocks Post Worst Start to a Year as China Rout Spreads
- German shares decline the most among western-European markets
- Stoxx 600 miners, automakers fall more than 3.5 percent
China Stock Selloff Tests New Market Circuit Breakers
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European stocks fell after a rout in Chinese equities rekindled concern that the nation’s economic slowdown will hamper the global recovery, while tension between Saudi Arabia and Iran added to bearish sentiment.
Automakers declined the most in the Stoxx Europe 600 Index, which lost 2.5 percent for its worst start to a year ever. Germany’s DAX Index, among the best performers in 2015, dropped 4.3 percent, the biggest slide for the export-driven gauge since the China-led rout in August. A measure of shares from the Asian nation tumbled 7 percent, triggering circuit breakers that halted trading for the rest of the day, after manufacturing data showed a fifth month of contraction.