Europe: Stocks drop at open in global rout
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
EUROPE'S stock markets fell at the open on Friday (May 6) in a global selloff rooted in worries over rising interest rates and surging inflation.
London's benchmark FTSE 100 index dropped 0.5 per cent to 7,467.66 points, one day after the Bank of England hiked interest rates to a 13-year peak and highlighted UK recession risks.
In the eurozone, Frankfurt's DAX index shed 0.8 per cent to 13,793.22 points and the Paris CAC 40 lost 1.2 per cent to 6,293.10.
Asian equities tumbled Friday after steep Wall Street losses, as traders contemplated a period of fierce monetary tightening by the US Federal Reserve.
Global markets have been battered this year by a series of crises including surging inflation, rising interest rates, China's economic slowdown and the war in Ukraine.
The Federal Reserve on Wednesday lifted borrowing costs 50 basis points -- the most since 2000 -- but held off on signalling more aggressive measures. AFP
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
