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European stocks closed notably lower on Tuesday amid rising concerns over the health<\/span> of the world’s second largest economy<\/span>, and uncertainty about the outlook for interest rates. Higher bond yields hurt as well.<\/p>\n China’s consumption and investment cooled further in July, and factory production growth also decelerated. <\/p>\n Meanwhile, China’s central bank unexpectedly cut key policy rates for the second time in three months in its efforts to boost economic recovery.<\/p>\n Investors also digested a slew of economic data from Europe and the U.S., and the latest batch of earnings updates.<\/p>\n The pan European Stoxx 600 ended 0.93% down. The U.K.’s FTSE 100 dropped 1.57%, Germany’s DAX drifted down 0.86% and France’s CAC 40 fell 1.1%, while Switzerland’s SMI closed lower by 1.12%.<\/p>\n Among other markets<\/span> in Europe, Austria, Belgium, Finland, Greece, Netherlands, Norway, Poland, Portugal, Russia, Spain, Sweden and Turkiye closed weak.<\/p>\n Iceland ended higher, while Czech Republic, Denmark and Ireland settled flat.<\/p>\n In the UK market, Phoenix Group Holdings, HSBC Holdings, Glencore, Antofagasta, M&G and Legal & General Group ended lower by 3 to 3.6%.<\/p>\n ABRDN, Experian, Schrodders, Endeavour Mining, Anglo American Plc, Prudential, AstraZeneca, Persimmon, British American Tobacco and Croda International Group lost 2 to 2.6%.<\/p>\n In the German market, E.ON, Siemens Energy, Vonvoia, Bayer, Infineon, BASF, MTU Aero Engines, Allianz, Siemens Healthineers, Zalando, Merck, Symrise, Mercedes-Benz and Volkswagen ended lower by 1 to 2%.<\/p>\n Sartorius, Adidas, HeidelbergCement, Fresenius Medical Care and Fresenius posted moderate gains.<\/p>\n In Paris, Teleperformance, Unibail Rodamco, Danone, ArcelorMittal, L’Oreal, BNP Paribas,Veolia, LVMH, Airbus, Capgemini, Pernod Ricard and Edenred lost 1 to 2%.<\/p>\n In economic releases, data from the Office for National Statistics showed the jobless rate in the U.K. rose to 4.2% in three months to June. Economists had forecast the unemployment rate to remain unchanged at 4%.<\/p>\n Survey data from the ZEW-Leibniz Centre for European Economic Research showed the economic confidence in Germany improved in August. The indicator of Economic Sentiment rose to -12.3 in August from a seven-month low of -14.7 in July. The score was forecast to remain at -14.7.<\/p>\n In Russia, the country’s central bank raised its benchmark rate sharply by 350 basis points at an emergency meeting on Tuesday to contain the depreciation of the ruble and thereby limit the inflationary pressures. <\/p>\n<\/p>\n<\/div>\n