European stocks dip for 4th day

LONDON: European shares slid for the fourth day yesterday, echoing falls across most of Asia as some investors unwound trades betting on a speedy economic recovery, while dollar weakness boosted oil towards $71 a barrel.

Mining stocks led the losses in Europe but doubts about the heralded global economic recovery are weighing on sentiment worldwide after several US economic indicators this week came in below expectations, raising fears that investors may have pushed up equity and commodity prices too quickly.

Stock corrections have been relatively tame so far but they have taken world stocks as well as emerging equities down to three-week lows. Both indexes have risen about 40 percent and 70 percent respectively off their March troughs as investors bet on a speedy economic recovery.