By Mahmoud Gamal

Kuwait-Mubasher: The U.S. and European stocks closed Tuesday on a mixed note after China cut interest rate, amid concerns about sluggishness in the world’s second biggest economy.

The Dow Jones Industrial Average declined 1.29% or 204.91 points to 15666.44 pts.

The S&P 500 SPX fell by 1.35% to 1867.62 pts.

The Nasdaq Composite also lost 0.44% or 19.76 pts to 450.6.49 pts.

Global market analyst Abdul Nasser Al-Otaibi told Mubasher that investor sentiment is still impacted by worries about China despite the government’s moves to ease economic slowdown.

Wrapping up European markets, the Eurofirst 300 Index dropped by 4.24%, while the STOXX 50% rose nearly 4.69%.

The STOXX 600 was up 4.09%, and FTSE100 gained 3.09%. German’s DAX advanced 4.9%, and France’s CAC climbed 4.14%.

Translated by Abdul Maguid Aboshahla