Economic news

European shares decline as pre-Christmas profit taking kicks off

European shares fell a second day in a row on Wednesday, with some pre-holiday profit taking beginning even as the U.S. lawmakers made a big jump forward in adopting its highly anticipated tax bill.

The Stoxx Europe 600 index slumped 0.3% to 389.77.

German DAX 30 index eased 0.3% to 13,171.34, while France’s CAC 40 index tumbled 0.5% to 5,357.11.

The U.K.’s FTSE 100 slipped 0.2% to 7,532.88.

Both the U.S. House of Representatives and the Senate aprrove the tax bill on Tuesday. If the Republican-controlled U.S. House of Representatives give final approval to a sweeping tax bill on Wednesday, it would appear on President Donald Trump's desk before Christmas.

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