European stocks finished lower Thursday after U.S. President Donald Trump pulled out of what would have been a historic meeting with North Korea, citing “open hostility” from the nation’s officials.
Deutsche Bank shares slumped after calls for the chairman to resign.
The Stoxx Europe 600 index lost 0.5% to close at 390.54, after logging its worst one-day percentage fall since March 22. The pan-European benchmark on Wednesday ended down 1.1% as traders fretted about weak eurozone data and the renewed prospect of a China-U.S. trade war.
Italy’s FTSE MIB index fell 0.7% to 22,749.08, erasing an earlier advance of as much as 1% which had put it among Europe’s best performing indexes on Thursday.
Germany’s DAX 30 index gave up 0.9% to 12,855.09, while France’s CAC 40 index PX1, -0.31% dropped 0.3% to 5,548.45.
The U.K.’s FTSE 100 index dropped 0.9% to 7,716.74. The blue-chip benchmark turned lower as the pound rallied on the back of a better-than-expected retail sales reading for April. Sterling bought $1.3374, compared with $1.3348 late Wednesday in New York.