(MENAFN– ecpulse)
European markets opened lower on Wednesday, falling for the fourth straight day amid downside pressures of the geopolitical tension in Iraq and renewed concerns about the crisis in Ukraine.
The pressure on the global markets remains evident since the crisis flared in Iraq two weeks ago, while the US prepares fresh sanction against Russia to pressure Kiev over the Ukraine crisis.
In Iraq, newly arrived U.S. military advisers and special operations forces began assessing the Iraqi forces in an effort to strengthen Baghdad`s ability to confront the insurgency, as the government forces fought Sunni militants for control of the country`s biggest oil refinery.
Iraq`s top Kurdish leader warned visiting Secretary of State John Kerry on Tuesday that a rapid Sunni insurgent advance has already created "a new reality and a new Iraq," signaling that the U.S. faces major difficulties in its efforts to promote unity among the country`s divided factions.
Meanwhile, the rebels are firming their hold on parts of the country, according to US officials.
Syrian air raids inside the nation`s borders killed at least 50 people, the Wall Street Journal reported.
Over the Ukraine crisis, the Obama administration is preparing for the next steps to pressure Russia and its economy, targeting specific areas of the Russian economy, including energy and technology.
The US vice-president, Joe Biden, spoke with Ukraine`s president on Tuesday after pro-Russian insurgents downed an army helicopter against ceasefire orders from their commander, the White House said.
Nine soldiers were killed in the incident, putting the ceasefire in Ukraine on shaky grounds.
As of the 04:33 a.m. ET, the Stoxx 600 plunged 0.65% to 343.34, where tech shares led the decliners by 1.15% loss.
- Britain`s FTSE 100 fell 0.50% to 6,753.15
- France`s CAC 40 fell 0.50% to 4,487.16
- Germany`s DAX 30 fell 0.66% to 9,872.97
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