LIVE MARKETS-European stocks fall on Fed independence jitters

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EUROPEAN STOCKS FALL ON FED INDEPENDENCE JITTERS

Most major European equity markets are lower on Tuesday after the long Easter break as concerns about the independence of the Fed put pressure on risky assets.

The STOXX 600 .STOXX is last down about 0.7%, a day after shares on Wall Street fell as U.S. President Trump took aim at Fed Chair Jerome Powell, urging him to cut rates or risk an economic slowdown. Trump has previously stated he would like to see Powell removed from his post.

"Trump attacks on Fed independence are seen as negative by the market," writes Jefferies economist Mohit Kumar.

Meanwhile, markets are also looking for any progress U.S. trade negotiations as tariff uncertainty lingers in the background. With the IMF-World Bank meetings kicking off this week, tariff talk is likely to be top of the agenda.

Other major bourses are also trading lower, with the DAX .GDAXI down 0.5% and the CAC 40 .FCHI down 0.7%, although Britain's FTSE .FTSE was inching higher.

In corporate news, Novo Nordisk NOVOb.CO shares are tumbling 6% after rival Eli Lilly LLY.N published positive results from a trial of its oral weight loss drug. Shares in the Danish drugmaker are down over 60% since peaking in June last year.

Top gainers are Helvetia HELN.S and Baloise BALN.S after the two Swiss firms agreed on a merger deal, creating Switzerland's second-largest insurance group.

Here's your opening snapshot:

(Samuel Indyk)

TUESDAY'S OTHER LIVE MARKETS POSTS:

EUROPE BEFORE THE BELL: FUTURES DIP AS TRUMP TURNS ON POWELL CLICK HERE

TRYING TO CONTAIN US MARKET CONTAGION CLICK HERE