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May 22, 2020, 3:16 a.m. EDT

European stocks slump on news of China tightening grip on Hong Kong

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By Barbara Kollmeyer

European stocks fell sharply on Friday, on investor concerns over tensions between the U.S. and China, as well as between Beijing and Hong Kong. The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP -0.66% fell 1.2%, the German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.70% fell 1.4% and the FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX -0.71% dropped 1.8%. Data in the U.K. showed a record slump in retail sales due to the coronavirus lockdown. Risk-off sentiment was spreading across assets with Dow futures /zigman2/quotes/210407078/delayed YM00 -0.55% down over 200 points and crude prices /zigman2/quotes/211629951/delayed CL.1 -0.39% down close to 6%. Hong Kong /zigman2/quotes/210598030/delayed HK:HSI -1.65% stocks fell 5% on news that China's ceremonial parliament is mulling a security law in the former British colony. Banks were among the big decliners, with HSBC Holdings PLC /zigman2/quotes/203901799/delayed UK:HSBA -2.19% /zigman2/quotes/208272822/composite HSBC -2.04% sliding 5%, while luxury goods makers such as LVMH Moet Hennessey Louis Vuitton SE /zigman2/quotes/201350549/delayed FR:MC -1.46% fell 2.5%.

/zigman2/quotes/210599654/delayed
XX : STOXX
368.78
-2.45 -0.66%
Volume: 0.00
Sept. 18, 2020 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,116.25
-91.87 -0.70%
Volume: 185,861
Sept. 18, 2020 6:30p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
6,007.05
-42.87 -0.71%
Volume: 1.54M
Sept. 18, 2020 4:56p
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/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 27,449.00
-153.00 -0.55%
Volume: 19,554
Sept. 21, 2020 12:48a
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/zigman2/quotes/211629951/delayed
US : U.S.: Nymex
$ 40.95
-0.16 -0.39%
Volume: 1,433
Sept. 21, 2020 1:47a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,051.48
-403.93 -1.65%
Volume: 901,734
Sept. 21, 2020 1:43p
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/zigman2/quotes/203901799/delayed
UK : U.K.: London
304.00 p
-6.80 -2.19%
Volume: 59.97M
Sept. 18, 2020 4:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
£61.92 billion
Rev. per Employee
N/A
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/zigman2/quotes/208272822/composite
US : U.S.: NYSE
$ 19.73
-0.41 -2.04%
Volume: 4.13M
Sept. 18, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$80.25 billion
Rev. per Employee
$366,224
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/zigman2/quotes/201350549/delayed
FR : France: Euronext Paris
413.85
-6.15 -1.46%
Volume: 1.55M
Sept. 18, 2020 5:35p
P/E Ratio
47.11
Dividend Yield
1.16%
Market Cap
€208.31 billion
Rev. per Employee
N/A
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