8/15/2019, 5:30 PM (Source: TeleTrader)
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Europe closes lower after yields sink to new lows

European equities closed in the red on Thursday following a volatile session sparked by recession worries. Eurozone government bond yields hit historic lows, while China vowed to retaliate for the new US tariffs on $300 billion worth of goods.

German lender Commerzbank hit an all-time low as well amid the turmoil, with Deutsche Bank close behind. Meanwhile, Olli Rehn, a member of the Governing Council of the European Central Bank (ECB), said that a stimulus package which will be announced at the bank's next policy meeting in September should "overshoot" investors' expectations.

The DAX sank0.70% at the end of trading as Lufthansa led the losses. Meanwhile, the CAC 40 declined 0.22% with carmakers Peugeot and Renault as the biggest laggards. The FTSE 100 dipped 1.13%; Royal Bank of Scotland plunged more than 10%. The euro fell 0.37$ against the dollar at 5:45 pm CET, buying 1.10967, while the pound gained 0.37% versus the greenback, to go for 1.21044.

Breaking the News / JC