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European stocks snap back from 5-month low as North Korea fears abate

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European stocks rally across the continent on Monday

European stocks on Monday partly recovered from last week’s sharp losses after senior U.S. officials over the weekend sought to play down the risk of a nuclear conflict with North Korea. The Stoxx Europe 600 index SXXP, +0.87%  was up 0.8% at 375.09, winning back parts of the 2.7% loss it suffered last week. On Friday, the pan-European benchmark dropped for a third straight day to close at its lowest level since late February, after a war of words between U.S. President Donald Trump and North Korean leader Kim Jong Un sparked fears of a nuclear war. However, on Sunday U.S. Secretary of Defense Jim Mattis and Secretary of State Rex Tillerson wrote in The Wall Street Journal that the Trump administration was seeking diplomatic solutions to achieve the “irreversible denuclearization” of North Korea.
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