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European markets dive as EU shreds growth forecasts

European equities mostly fell afer the EU slashed its economic forecasts for the eurozone, while the energy sector sank on plunging oil pricesEuropean markets fell sharply Tuesday after the European Union slashed its economic forecasts for the eurozone, while the energy sector sank on plunging oil prices. The EU also warned that France and Italy remain huge problems for the sluggish European economy while calling for investment. London’s FTSE 100 index closed down 0.52 percent to 6,453.97 points, while the Paris CAC 40 dropped 1.52 percent to 4,130.19 points and Milan’s FTSE Mib sank 2.24 percent to 18,935 points. US stocks moved mostly lower on the EU’s slower growth forecasts, a higher US trade deficit and slumping oil prices.

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