Europe stocks drop after Moody's warning
LONDON (MarketWatch) -- European stock markets opened in negative territory on Tuesday, following a warning from Moody's Investors Service that the European Union may lose its Aaa debt rating. The credit-rating firm also changed the outlook to negative. The Stoxx Europe 600 index (STX:XX:SXXP) fell 0.4% to 267.33, with drug makers and banks adding the most pressure. Roche Holding AG (SWL:CH:ROG) (OTN:RHHBY) lost 0.6%, while GlaxoSmithKline PLC (LSS:UK:GSK) (NYSE:GSK) gave up 0.5%. The U.K.'s FTSE 100 index (FTI:UK:UKX) slipped 0.4% to 5,737.25, as heavyweight bank HSBC Holdings PLC (LSS:UK:HSBA) (HKG:HK:5) lost 0.5% and Standard Chartered PLC (LSS:UK:STAN) tripped 0.8%. In Germany, Deutsche Bank AG (FRAEBK) fell 0.7% and weighed on the DAX 30 index (ITFXAX) , which lost 0.3% to 6,996.92. Among French stocks, car makers dropped, with Peugeot SA (EPA:FR:UG) off 0.7% and Renault SA (EPA:FR:RNO) down 0.6%. The CAC 40 index (ENX:FRX1) lost 0.4% to 3,440.04.