European shares sank and closed to ten week lows on Wednesday as Chinese newspapers warned Beijing was ready to use its supply of rare earths in an increasingly bitter trade dispute with the United States, sending investors scurrying for perceived safe havens for capital globally. the pan-European STOXX 600 index lost 1.43%. The CAC 40 is down 1.71% while Germany's DAX is off 1.57% and London's FTSE 100 is lower by 1.15%.
Wall Street’s main indexes hit more than two-month lows on Wednesday, after China signaled further escalation in its trade war with the United States, fuelling fears that the dispute could be protracted and pressure global economic growth. The Dow has slumped 286.50points, or 1.11%, on Wednesday afternoon. The index was briefly down more than 400 points, sinking below 25,000. The S & P 500 lost 0.86%, while the Nasdaq declined 0.85%.
Stocks around the world and commodities slid again Wednesday, as worries about slowing economic growth spurred a fresh retreat from riskier investments.