European stocks drop, DAX slides 1.2%

The stock markets across Europe erased early gains and fell into losses as bank shares and mining stocks dropped.

At the time of writing, the pan-European Stoxx 50 index was down 1.65%. Germany’s DAX was down 1.5% and France’s CAC was down 2%. UK’s FTSE was down 0.80%.

German lender Deutsche bank erased gains and now trades 1.3% lower on the day. UK miners – Antofagasta and Rio Tinto were down 8.7% and 5.7%, respectively.

The drop in the markets today goes unexplained, since the oil prices are trading higher.

The stock markets across Europe erased early gains and fell into losses as bank shares and mining stocks dropped.

(Market News Provided by FXstreet)