European stocks wilt amid worries over US housing sector

European stocks wilt amid worries over US housing sector

By AFP

London: Europe’s main stock markets fell on 6 August amid worries about the impact of the struggling US housing sector on the global economy.

London’s FTSE 100 index lost 0.57% to close at 6,189.10 points. In Paris the CAC 40 shed 1.16% to 5,532.99 while in Frankfurt the Dax lost 0.11% to finish at 7,444.04 points.

The DJ Euro Stoxx 50 index of top eurozone shares shed 0.62% to close at 4,202.78 points.

The euro stood at $1.3787. In the United States, shares moved higher after choppy trade amid renewed credit jitters over the troubled housing market on the eve of a Federal Reserve meeting on interest rates.

The Dow Jones industrial average rose 1.11% to 13,327.66 in early afternoon trade. The Standard & Poor’s 500 index rose 1.19% to 1,450.15. The Nasdaq composite index rose 0.60% to 2,526.33.

The three key indees had opened higher afterplunging on 3 August involatile trading, wth the Dow dropping more than 2%, as investors worried about rising credit problems elated to the US housing market.

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