European stocks shrink, FTSE down 1%
European equities nosedived for a 3rd straight day on Thursday, after fears over world's leading economies ability to restore order in financial markets. High uncertainty is still latent and palpable this week, thus rising the challenging difficulties for investors intending to brave higher yielding market corners.
Adding to that, investors gathered well-justified concerns to increase cautioun on tumbling data from the US housing market. Also, Fed decision to hold rates unchanged came along with a downgraded message hinting a tougher economic recovery than expected looms ahead.
The FTSE 100 descended by more than 1% weighed by the mining sector, disappointed on the new Australian PM's approach to a proposed tax on mining firms. CAC-40 in France extended its downside rally by 1.30% while the German DAX plummeted by 0.85%.
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