European indices are down by roughly 3% across the board
The return from the long weekend isn't a pretty one so far for European equities, as we see heavy declines across the board to start the new month.
The DAX is down by 3% and the same goes for the CAC 40 and Eurostoxx indices.
Only UK stocks aren't bleeding all too much as they are comforted by a weaker pound and the fact they already paid their due in Friday trading last week.
I think what is also important to acknowledge the size of the turnaround and deterioration in sentiment. The DAX posted just over 9% gains in April trading and is already seeing 1/3 of that erased so far today:
Heightened tensions between US and China may be the main theme driving the market to start the week but the lack of coordinated fiscal response by European leaders will also be a bane for regional stocks moving forward as well.
