Europe Stocks Decline
European stock markets finished lower Tuesday. In London, stocks were pressured after insurer Prudential PLC (PUK ) announced it would stop raising its dividend. The FTSE 100 index was down 80.3 points, or 2.17%, to 3,621.5.
In Paris, the CAC 40 index lost 102.24 points, or 3.67%, to 2,683.37. In Frankfurt, the DAX index fell 85.85 points, or 3.34%, to 2,485.5. Bayer was one of the big decliners; Bloomberg reported that some of the selling may have been due to court papers which suggested that the company promoted the now-withdrawn cholesterol drug Baycol while knowing it made some patients ill.
In Asia, stocks ended lower. In Japan, the Nikkei 225 index fell 204.46 points, or 2.39%, to close at 8,360.49. Tokyo's stock market expanded losses on Tuesday afternoon, following the morning news that North Korea had fired a test missile into the Sea of Japan. Other bear news included Wall Street's overnight 2% fall and Iraq's rejection of a U.N. request to destroy banned missiles.
Hong Kong's benchmark Hang Seng index fell 90.99 points, or 0.98%, to close at 9,148.48.