LONDON — China’s further devaluation of the yuan and North Korea’s announcement of a hydrogen bomb test rattled European markets in late morning trading on Wednesday.
All major indices were down, with the FTSE MIB in Milan leading the way. The Italian market fell 1.6 percent to 20,651.84, followed by the CAC 40 in Paris, 1.4 percent to 4,472.82.
The FTSE 100 in London and the DAX in Frankfurt were both down 1.3 percent, to 6057.00 and to 10,170.77 respectively.
The euro traded at $1.08, while the pound fetched $1.47 and the Swiss franc equaled $0.99 at 12:00 noon CET.
Retail and luxury stocks were down with the markets. Among the few risers were Aeffe, 2.3 percent to 1.44 euros; and Mulberry Group, 2.8 percent to 9.73 pounds.
The morning’s biggest fallers included Swatch Group, 3 percent to 62.35 Swiss francs; Tesco, 3 percent to 1.40 pounds; Yoox Net-a-porter Group, 2.2 percent to 30.98 euros; Burberry Group, 2.9 percent to 10.88 pounds; and Adidas, 2.1 percent to 85.43 euros.