European stocks lower amid growing concerns on China

Source: Marketwatch
© ScanPix/Reuters
Equity markets in Europe moved lower on Wednesday as Chinese authorities continued with the Yuan devaluation, rising concerns over the growth outlook for the world's second largest economy. The pan-European Stoxx 600 index slumped 2%, the German DAX erased 2.12%, while the French CAC 40 lost 2.27%. Devaluation of Yuan scared many investors to move from risky equities into safe-haven assets. 
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