Black session for equity markets in Europe, with indices plummeting to a two-month low amid fears of tightening monetary policy in response to rising inflation that could lead to an economic contraction. The Stoxx Europe 600 index fell by 2.9%, London lost 2.32% to 7,216 points, Paris 2.75% to 6,086 points, Frankfurt 2.15% to 13,380 points, Madrid 2, 2% to 8,139 points and Milan did not diverge too much down by 2.74% to 22,832 points.
Driving the decline is the travel and leisure sector. Stocks in tech companies plummeted to their lows since November 2020 when the Nasdaq 100 extended its decline. Falling oil drags energy stocks down. “Bad news is piling up for Europe” as the European Central Bank prepares to raise rates, news about the war in Ukraine worsens and Chinese growth slows, comments an analyst.
Source: Ansa
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