U.S. Markets close in 1 hr

European markets hit by German manufacturing woes and strong U.S. jobs data

Callum Keown
European markets hit by German manufacturing woes and strong U.S. jobs data

The Stoxx 600 (XX:SXXP)  slid 0.4% and the DAX (DX:DAX)  fell 0.2% as markets opened softer after Thursday’s flat day of trading, when the Fourth of July holiday kept U.S. markets quiet. Mining stocks have also been under pressure after China’s major steel companies formed a group to investigate the recent record surge in iron ore prices, taking the FTSE 100 (UK:UKX)  down 0.3%. European markets tumbled further after strong U.S. jobs data put an expected Federal Reserve interest-rate cut, possibly as soon as later this month, in doubt.