European shares stumble as techs drop; political uncertainty in Washington weighs

Pfeiffer Vacuum Technology AG

25/09/2019 08:23

(For a live blog on European stocks, type LIVE/ in an Eikon
news window)
    Sept 25 (Reuters) - European shares fell broadly on
Wednesday, with technology stocks leading losses, while an
impeachment inquiry into U.S. President Donald Trump raised
concerns of political uncertainty in the world's largest
economy. 
    The European technology sector  .SX8P  slid 1.2%, the most
among the major sub-sectors, while the pan-European STOXX 600
index  .STOXX  fell 0.6%. 
    The move by Democrats in the U.S. House of Representatives
only piled on worries of a global economic downturn and the
impact of a prolonged trade war between the United States and
China.  urn:newsml:reuters.com:*:nL2N26G01W
    Adding pressure on stocks was a harsher tone by Trump on
U.S.-China trade talks, with export-reliant Germany  .GDAXI 
falling 0.5%. Trump said he would not accept a "bad deal" in
negotiations with Beijing at the United Nations General Assembly
on Tuesday.  urn:newsml:reuters.com:*:nL2N26F0WB
   Germany's Pfeiffer Vacuum  PV.DE  plunged 13.6%, after it
warned of delays to orders, cut its full0-year sales and EBIT
margin forecasts.
    In a bright spot, British supermarket group Sainsbury's
 SBRY.L  gained 1% following news of a new plan to cut costs,
speed up debt reduction and shake up its store estate and
financial services division.  urn:newsml:reuters.com:*:nL5N26G133

 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Bernard
Orr)
 ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780))