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BREAKING NEWS

European stocks fall as recession fears ramp up

European stocks fall as recession fears ramp up
The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 27, 2019. REUTERS/Staff -
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(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)

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