Wed, 23 Jun 2021

European stocks sink at open in global selloff

11 May 2021, 20:42 GMT+10

Europe's major stock markets dived by more than 1.5% at the open on Tuesday, joining a global selloff on heightened inflation fears.

London's benchmark FTSE 100 index of top blue-chip companies sank 1.8% to 6 999.21 points compared with Monday's closing level.

In the eurozone, the Paris CAC 40 dropped 1.5% to 6 287.47 and Frankfurt's DAX 30 lost 1.6% to 15 150.34 points.

Asian equities also tumbled, following steep losses on Wall Street, as investors grew increasingly worried about a surge in inflation that could force central banks to wind back their ultra-loose monetary policies earlier than forecast.

"Inflation is what keeps investors up at night," said Swissquote analyst Ipek Ozkardeskaya.

Source: News24

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