HONG KONG/LONDON—European and Asian stocks fell on Tuesday after China cut interest rates by less than expected and the market awaited more details on Beijing’s plans to shore up a stuttering economic recovery.
China cut its benchmark loan prime rates (LPR) for the first time in 10 months on Tuesday, with a smaller-than-expected 10-basis point reduction in the five-year LPR.
Europe’s pan European STOXX 600 index fell 0.13 percent, after declines in stock markets across Asia.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.75 percent. China’s benchmark CSI slipped 0.17 percent, with the real estate index falling 1.9 percent, its biggest daily decline in a month….