BERLIN, Nov 4 — European stocks slid today as US President Donald Trump took the lead over Democratic rival Joe Biden in a number of vital swing states, making the race for the White House too close to call.

The pan-European STOXX 600 index fell 1.2 per cent by 0805 GMT, while the German DAX shed 1.8 per cent and UK’s FTSE lost 1.2 per cent.

New York’s S&P 500 futures slid 0.6 per cent after volatile trading overnight, while those in the tech-heavy Nasdaq gained 1.0 per cent.

Adding to uncertainty, Trump falsely claimed that he had won the US election, and said that "they” were trying to steal the election, without providing evidence. He said he would go the US Supreme Court to fight for the win if needed.

Earlier this week, money managers had bet on a clear victory for Biden in the election, boosting European equities, as investors anticipated better trade ties with Washington and more economic stimulus for the coronavirus-hit US economy.

Banks, oil & gas and mining stocks fell more than 3 per cent after leading a surge in markets this week as investors unwound bets of a Biden sweep that could support the growth-sensitive sectors. — Reuters