News of the day: European stocks collapsed in the winter of 2021 – Expert.RU

European stocks plunged on Thursday to their lowest level since the winter of 2021. After a series of rate hikes by central banks, the market fears a recession.

The pan-European STOXX 600 fell to 399.54 on Thursday. This is the lowest since February 2021.

Investors reacted to rate hikes by the US Federal Reserve, the Swiss Central Bank and the Bank of England. This revived fears of the imminent start of a large-scale economic downturn in Europe. In addition, the mood of the market participants was worsened by the fact that the Bank of England, raising the rate, announced that the UK, according to its assessment, had already entered into a recession.

Most sectors of the stock market and European stock indices closed the day in the red. Particularly rate sensitive, technology and travel stocks were at the bottom of the Stoxx 600, shedding 4.24% and 3.2%, respectively. The pan-European stock index itself finished trading near the lows of the session – at 399.76 points.

Leave a Reply

Your email address will not be published.

Back to top button