(Reuters) – European shares were trading lower in early deals on Wednesday, led by losses in technology stocks, as fears that major economies might be on the brink of recession intensified.
A deep inversion in the U.S. Treasury yield curve once again rattled investors still worried about economic growth in the face of a U.S.-China trade war that is now in its second year and is weighing on the global economy.
The pan-European STOXX 600 index <.STOXX> slipped 0.47% by 0715 GMT, with Germany’s trade-sensitive DAX <.GDAXI> underperforming with a 0.54% drop.
The biggest fallers on the DAX were software provider SAP SE <SAP.DE>, chipmaker Infineon Technologies AG <IFXGn.DE> and payments company Wirecard AG <WDIG.DE>. They were down between 0.9% and 1.2%.
Shares of British oil major BP Plc <BP.L> rose 1.1% and gave the biggest boost to the main index, after the company agreed to sell all its Alaskan properties for $5.6 billion to privately held Hilcorp Energy Co.
(Reporting by Amy Caren Daniel in Bengaluru; Editing by Arun Koyyur)