Global Stocks Fall After UK’s Truss Defends Tax Cuts

Currency traders work at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, on Sept. 29, 2022. Ahn Young-joon/AP Photo

BEIJING—European stocks tumbled Thursday and Asian markets were mixed after British Prime Minister Liz Truss defended a tax-cut plan that rattled investors.

London’s market benchmark plunged 2.3 percent and Frankfurt lost 1.9 percent in early trading. Shanghai and Hong Kong also declined. Tokyo and Seoul advanced.