Stocks slightly down in Europe

European stock markets fell Monday after small gains in Asia as investors digested political uncertainty in Italy and reports that a summit between President Trump and North Korea’s Kim Jong Un might be on again.

France’s CAC 40 fell 0.6% to 5,508.93, and Germany’s DAX dropped 0.6% to 12,863.46. Italy’s benchmark FTSE MIB opened higher but drifted lower to close down 2.1% at 21,932.69. Markets were closed for holidays in the U.S. and Britain.

The euro was volatile, touching a six-month low after Italy’s president vetoed a candidate for economy minister who was proposed by leaders of two populist parties trying to form a government.

The euro fell to $1.1627 from $1.1652 on Friday.

“The euro has had a rough go lately, reflecting a fire hose of negative news headlines. It started with the loss of data momentum, and now political risks have injected a new risk premium. We still believe that Italy doesn’t pose systemic risks to the single currency,” said Mark McCormick, the North American head of FX Strategy at TD Securities.

Trump’s latest reversal on a summit with Kim Jong Un and South Korean President Moon Jae-in’s impromptu meeting with Kim on Saturday eased fears over the Korean peninsula’s nuclear crisis.

Japan’s Nikkei 225 edged 0.1% higher to 22,481.09, and South Korea’s Kospi rose 0.7% to 2,478.96. Hong Kong ’s Hang Seng rose 0.7% to 30,792.26.