European stocks slump; ruble gains as central bank steps up defense | WHAT REALLY HAPPENED

European stocks slump; ruble gains as central bank steps up defense

European stocks dropped Wednesday, resuming their recent run of losses as investors wrestle with economic and political uncertainty throughout the region.

The Stoxx Europe 600 SXXP, +0.19% fell 0.7% to 326.62, with all major sectors swimming in the red.

In Frankfurt, the DAX 30 index DAX, -0.12% fell 1% to 9,459.54. France’s CAC 40 PX1, +0.61% declined 0.9% to 4,058.65 and the U.K.’s FTSE 100 UKX, +0.11% declined 0.9% to 6,274.87.

At the same time, attention turned once again to Russia’s currency, which advanced against the dollar Wednesday following a report the Russian finance ministry has started to sell foreign currency in an effort to halt the ruble’s slide. The dollar was buying 64.674 rubles USDRUB, -15.46% compared with 67.893 late Tuesday.

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