By  on August 27, 2013

LONDON — Europe’s markets were down during mid-morning trading on Tuesday, after U.S. Secretary of State John Kerry said the Obama administration would hold Syria accountable for using chemical weapons.

The FTSE MIB in Milan lost 1.6 percent to 16,702.75; the CAC 40 in Paris and the DAX in Frankfurt both dropped 1.5 percent, to 4,007.04 and 8,312.53 respectively; while London’s FTSE 100 shed 0.9 percent to 6,434.52.

The dollar was trading at $1.51 against the pound, the euro was worth $1.31 and the Swiss franc was fetching $1.07 at 11.30 a.m. CET.

Retail and luxury stocks were mostly down, with the morning’s biggest fallers including Carrefour, down 3.2 percent to 23.31 euros; Compagnie Financière Richemont, 2.5 percent to 90.85 Swiss francs; and Mulberry, 2.1 percent to 9.55 pounds.

Marks & Spencer was up 5.8 percent to 4.86 pounds.

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