European stocks slip and trading volumes thin as UK market closes for jubilee

Stocks fell following bigger-than-expected US hiring data which revived worries over the outlook for interest ratesApple was hit by bearish brokerage comment and a report that EU countries and lawmakers were set to agree on a common charging port for mobile phones, tablets and headphones next week.

The blue-chip Dow has fallen 9.3 per cent so far this year, the benchmark S&P 500 has lost 13.6 per cent and the tech-heavy Nasdaq has shed 23.1 per cent, with rate-sensitive growth stocks bearing the brunt of the sell-off. Apple slid 3.6 per cent, hit by a bearish brokerage comment and a report that EU countries and lawmakers were set to agree on a common charging port for mobile phones, tablets and headphones on June 7th, a proposal that has been fiercely criticised by the iPhone maker.

Tesla dropped 8.1 per cent after chief executive Elon Musk, in an email to executives, said he has a “super bad feeling” about the economy and needs to cut about 10 per cent of jobs at the electric carmaker.Get the latest business news and commentary from our expert business team in your inbox every weekday morning

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