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European Stocks Resume Selloff on Worries About China Growth

9/01/15 10:05 AM EDT
Concerns about China's economy are again weighing on markets globally, with European stocks retreating on Tuesday. 'It looks like investors just don't have the appetite to carry stocks much higher,' said Jasper Lawler, market analyst at CMC Markets, who said investors are worried that weakness in China will spill over to other countries. 'There's a feeling that China's slowdown can have a bearing on Europe's economy,' explained Lawler. ‘It's an export destination for us, and the slowdown there certainly is not going to help prospects for growth over here.' Lawler said a few interest rate cuts from China are not enough to ease worries, and he expects that European markets will retest their lows. Another issue weighing on European markets, according to Lawler, is the prospect of an interest rate hike in the U.S.
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