European stocks set for lower open as markets assess impact of Trump assassination attempt

The pan-European Stoxx 600 was down 0.64% by 2:00 p.m., as all major bourses and the majority of sectors traded in the red. Mining stocks led losses, slipping 1.68%, followed by utilities, which lost 1.58%.

Shares in Burberry plunged 17% after a “disappointing” first-quarter performance led it to replace its CEO and axe its dividend. Meanwhile, Swatch Group fell 9.5% as profits fell amid a slowdown in China sales.

European stocks follow the trend set in Asia-Pacific overnight, where markets mostly fell as China’s gross domestic product data missed expectations and as investors also assessed the impact of the assassination attempt on Trump. The former president was grazed by a bullet and treated at a local hospital. He was released late Saturday night.

President Joe Biden addressed the nation from the White House on Sunday and condemned all political violence and called for unity. Meanwhile, Trump has said his speech at the Republican National Convention will now focus on national unity, instead of targeting Joe Biden’s policies.

Saturday’s shooting raises Trump’s odds of winning back the White House, investors said on Sunday.