Traders assess effect of Trump assassination attempt

The pan-European Stoxx 600 provisionally closed 1% lower, with all sectors and major bourses in the red. Household goods led losses, down 2%, followed by utilities, which lost 1.9%.

Shares in Burberry plunged 16% after a “disappointing” first-quarter performance led it to replace its CEO and axe its dividend. Meanwhile, Swatch Group fell 9.8% as profits fell amid a slowdown in China sales.

Asia-Pacific markets were also lower Monday, as China’s gross domestic product data missed expectations.

Wall Street saw a strong start, however, with the Dow Jones Industrial Average and S&P 500 both climbing to new intraday record highs as investors assessed the effect of the assassination attempt on Trump.

Saturday’s shooting raises Trump’s odds of winning back the White House, according to analysts, who said U.S. stocks were likely to get a short-term boost. Cryptocurrencies and related stocks were also bolstered by the so-called “Trump victory trade.”

President Joe Biden addressed the nation from the White House on Sunday and condemned all political violence and called for unity. Meanwhile, Trump has said his speech at the Republican National Convention will now focus on national unity, instead of targeting Joe Biden’s policies.