European shares slide despite Nasdaq record; German exports collapse – business live

  • Eurozone contracts by 3.6% in first quarter as household spending, investment and exports plummet
  • German and French exports slump in April
  • Asian markets rise for ninth session on economic recovery hopes

2.54pm BST

Connor Campbell, financial analyst at trading platform Spreadex, says:

All this comes after a stellar Monday session in the US, one that saw the Nasdaq hit an all-time high and the Dow Jones reach a 15-week peak.

Those long- and short-term records, however, may well have inspired Tuesday’s losses. Investors might be questioning the wisdom of such highs in a world still very firmly in the middle of a pandemic.

2.34pm BST

Wall Street has fallen at the open, ahead of the Fed meeting.

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