Europe slumps by the close amid heightened trade tensions; tech sector drops 3%

European stocks finished Wednesday’s session deep in the red, as renewed concerns over international trade conflicts hampered investors’ appetite for riskier assets.

The pan-European STOXX 600 extended losses in afternoon trade, tumbling 1.09 percent to 375.68 by the close. All sectors except banks ended in negative territory. A number of Italian banks shot to the top of the pan-European benchmark, with Banco BPM closing up over 7 percent.

Bourses across the region were seeing red by the closing bell, with the U.K.’s FTSE 100 slipping 1 percent, France’s CAC 40 dropping 1.54 percent and Germany’s DAX tumbling 1.39 percent.


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