european-stocks-skid-after-fed-minutes,-with-miners-tumbling

European stocks skid after Fed minutes, with miners tumbling

European stocks slumped on Thursday, with mining stocks losing ground after minutes from the last Federal Reserve interest-rate-setting committee indicating it was soon going to start reducing the rate of bond purchases.

The Stoxx Europe 600
SXXP,
-1.93%

fell 2% to 464.82, in the first opportunity for investors in Europe to react to the Fed news.

Of the major regional indexes, the German DAX
DAX,
-1.71%

skidded 1.8%, the French CAC 40
PX1,
-2.58%

slumped 2.9% and the U.K. FTSE 100
UKX,
-2.06%

slumped 2.3%.

The Stoxx Europe 600 basic resources index
SXPP,
-4.37%

dropped nearly 5%. Futures on copper
HG00,
-3.36%

and platinum
PL00,
-2.90%

each fell nearly 3%.

The luxury-goods sector also was in retreat, on worries over China’s crackdown on the wealthy. Kering
KER,
-7.72%

fell 8%, and LVMH Moet Hennessy
MC,
-4.73%

dropped 5%.

U.S. stock market futures
ES00,
-0.71%

also dropped.