LONDON – European markets fell sharply at the start of the new trading week but pared losses by the end of the day amid a global stock market selloff.
regional Stoke 600 The index closed down 2.17%, pulling back from a loss of more than 3%, with the technology sector recovering some ground to end down 0.9%.
Still, all industries and major exchanges posted losses, with utilities and oil and gas stocks both down more than 3%.
strategist Several reasons were pointed out The economic downturn in Europe, Asia and the United States that began last week includes concerns about a U.S. recession and rapid interest rate cuts by the Federal Reserve, the Bank of Japan’s recent hawkish turn, and the financial crisis Japanese yen “carry trade” and the continued re-rating of the technology sector.
The VIX, which measures expected market volatility, surged more than 100% to 64.06 in Monday trading before cooling back to around 35, still the highest level since 2020.
US stocks saw it Stocks fell sharply throughout the morning, with the Dow Jones Industrial Average down nearly 1,000 points, or 2.5%, and the tech-heavy Nasdaq down 2.6%.
Asia Pacific market Have led sold out on Monday. Japan’s stock market entered a bear market, with the Nikkei 225 index falling 12.4%, its worst day since 1987.
The broad-based Topix also tumbled, plunging 12.23%, while heavyweight trading firms such as Mitsubishi, Mitsui & Co., Ltd.., Sumitomo and Marubeni Both plummeted by more than 14%.
Meanwhile, the yen rose to its highest level against the dollar since January as U.S. Treasuries rose.
On the data side, the need UK service The latest purchasing managers’ index data on Monday showed that the purchasing managers’ index rose in July to 52.5 from 52.1 the previous month. The corresponding data is Italy and Spain It also noted that the industry continues to grow, but at a slower pace than in previous months.
