European stocks drop, DAX slides 1.2%

By FXStreet 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.
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Source:: FX Street