European stock markets saw red on Wednesday for the first time since the immediate aftermath of the U.S. election, after real estate and financial stocks sank benchmarks in London, while industrials weighed on Europe.
The rout in U.K. real estate stocks came after a series of downbeat commentaries from bellwethers in homebuilders and commercial property. Financials, industrials and airlines were weaker across Europe as investors took profits following several days of strong gains.
The FTSE 100 fell 0.6% in London, to 6,749.4, while the mid-market FTSE 250 dropped by 0.6% to 17,473.5.
The DAX in Germany was also down by 0.6%, to 10,663.2, while the CAC 40 in France was 0.7% lower at 4,501.2. The Stoxx Europe 600 index, the broadest measure of European stocks, was down by 0.2%, to 338.5.
Key European currencies trended lower against the dollar for the session, with the pound down by nearly 40 points to 1.2444 by the time stock markets closed. The euro also shed 40 points and fell to 1.0690.
Prices of major European bonds were divergent on Wednesday, with U.K. and German yields trending downward following two weeks of solid gains, while French yields rose.
U.K. Gilts were down around 30 basis points to 1.26% and German yields were down around 15 basis points to 0.29%.
French yields were up as much as 40 basis points at one point during the session after the former economy minister Emmanuel Macron announced that he will stand for the presidency in 2017 as an independent candidate.