2017.03.2206:42:00UTC+00European Shares Lower on Trump Trade Uncertainty

European stocks retreated in early deals, extending declines from the session earlier as basic resources and banks were under pressure. Investors are beginning to doubt the extent to which U.S. President Donald Trump can deliver on his promised growth policies.

The Stoxx Europe 600 Index fell 0.7 percent, on track for its worst back-to-back fall since January. Banks and miners led declines in Europe, as all industry groups except utilities retreated.

The mining sector dropped 1.5 percent as prices of copper reached a two-week low while the banking sector fell 1.5 percent. Dutch lender ING Groep was among the largest decliners, off by nearly three percent after disclosing a criminal investigation that might result in fines. Safe-haven precious metals miners bucked the trend as Randgold Resources and Polymetal International were trading higher.