MW:European stocks extend losses after U.S. GDP data
By Sara Sjolin
LONDON (MarketWatch) -- European stock markets extended losses in afternoon action on Wednesday, after data showed the U.S. economy grew at a 1.7% annual rate in the second quarter, beating analysts expectations. Meanwhile, growth for the first quarter was revised down to 1.1% from 1.8%. Stock markets have recently reacted negatively to upbeat data on fears it would strengthen the case for the U.S. Federal Reserve to taper its monthly asset purchases. The Stoxx Europe 600 index XX:SXXP -0.08% fell 0.1% to 299.01, after trading around 299.21 ahead of the release. France's CAC 40 index FR:PX1 -0.20% dropped 0.3% to 3,975.30, while Germany's DAX 30 index DX:DAX -0.33% lost 0.5% to 8,234.07. The U.K.'s FTSE 100 index UK:UKX +0.64% rose 0.7% to 6,614.41.
