(AP) – London – Enthusiasm for riskier assets such as stocks faded Monday as skeptical investors watched oil dropped below $99 per barrel while the dollar rose against the euro and the yen.
European stock markets skidded in the first day of trading after the European Union adopted a new fiscal pact meant to prevent the kind of financial fiasco that is now sweeping across countries that use the euro.
Britain’s FTSE 100 fell 0.5 percent to 5,500.94. Germany’s DAX dropped 0.8 percent to 5,940.05 and France’s CAC-40 lost 0.7 percent to 3,149. Wall Street also headed for a lower opening, with Dow Jones industrial futures dipping 0.4 percent to 12,090 and S&P 500 futures down 0.5 percent at 1,247.50.