Europe: Stocks slide at open on inflation concerns
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[LONDON] European stock markets sank at the open on Wednesday, after earlier losses in Asia, as investors continued to fret over inflation.
London's FTSE 100 index slid 1.1 per cent to 6,958.55 points, as official data showed UK inflation spiked in April.
In the eurozone, Frankfurt's DAX 30 index lost 1.2 per cent to 15,207.47 points and the Paris CAC 40 shed 1.0 per cent to 6,288.18.
Asian equities also fell Wednesday as investors struggled to break out of a long-running cycle of volatility, with optimism over the economic recovery playing off against fears about rising inflation.
Wall Street retreated Tuesday as technology firms were hit hard, with Apple, Amazon and Facebook all losing more than one per cent.
"Investors continued to fret about the spectre of inflation," noted Richard Hunter, head of markets at Interactive Investor.
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