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European shares slip ahead of trade talks; healthcare stocks drag

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European shares inched down in early trade on Thursday, hit by a batch of bad news for healthcare companies and a series of new twists in the US-China trade war ahead of top-level negotiations starting later in the day.

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, October 9, 2019.

European equity markets have fallen more than 3% in October as a dismal run of economic data and the threat of a transatlantic trade war added to US-China trade tensions and Britain’s chaotic efforts to leave the EU. “I think the worst thing any investor can do right now is to second guess these political events,” said Russ Mould, investment director at brokerage AJ Bell, adding that China was “playing a patient game.”

Without significant progress, the next round of US tariff hikes on $250 billion worth of Chinese goods will take effect on Oct. 15.

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