Europe: Markets sink at open in global selloff
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EUROPE'S main stock markets opened sharply lower on Thursday (May 19), after heavy losses in Asia and on Wall Street.
London's benchmark FTSE 100 index of major blue-chip companies fell 0.8 per cent to 7,376.16 points compared with Wednesday's close.
In the eurozone, Frankfurt's DAX index lost 1.5 per cent to 13,800.02 points and the Paris CAC 40 shed 1.4 per cent to 6,262.72.
"Sentiment ... is highly negative as traders and investors are largely concerned about an economic downturn and soaring inflation," said AvaTrade analyst Naeem Aslam.
Asian equities also posted losses on Thursday after Wall Street suffered one of its worst batterings in 2 years.
Downcast earnings reports from retailers had also exacerbated worries about consumer resilience and corporate profitability on Wednesday. AFP
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