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Global stocks slump as key Trump adviser quits, stoking trade war fears

Spreadbetters expected European stocks to open lower, with Britain’s FTSE falling 0.7 percent, Germany’s DAX losing 0.8 percent and France’s CAC dropping 0.85 percent.

 White House economic adviser Gary Cohn, seen as a bulwark against protectionist forces within the Trump administration, said on Tuesday he was leaving.

In response, S&P 500 futures dropped more than 1 percent setting the downbeat tone for Asia.