{"id":21494,"date":"2022-05-09T16:43:20","date_gmt":"2022-05-09T16:43:20","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2022\/05\/09\/european-stocks-tumble-extend-losses-to-4th-straight-day\/"},"modified":"2022-05-09T16:43:20","modified_gmt":"2022-05-09T16:43:20","slug":"european-stocks-tumble-extend-losses-to-4th-straight-day","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2022\/05\/09\/european-stocks-tumble-extend-losses-to-4th-straight-day\/","title":{"rendered":"European Stocks Tumble, Extend Losses To 4th Straight Day"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

European stocks tumbled on Monday, losing ground for a fourth successive session, as fears of an economic recession as a result of rising inflation and higher interest rates triggered heavy selling across the board. <\/p>\n

Worries about the impact of severe lockdown restrictions in China’s Shanghai, and disappointing data from China showing a marked slowdown in the country’s export growth in April further dented sentiment.<\/p>\n

The pan European Stoxx 600 plunged 2.9%. The U.K.’s FTSE 100 shed 2.32%, Germany’s DAX ended 2.15% down and France’s CAC 40 tumbled 2.75%, while Switzerland’s SMI dropped 2.44%.<\/p>\n

Among other markets<\/span> in Europe, Austria, Belgium, Denmark, Finland, Iceland, Ireland, Netherlands, Norway, Poland, Portugal, Spain and Sweden lost 2 to 4%.<\/p>\n

Greece and Russia closed moderately lower. Turkey edged up marginally, while Czech Republic ended flat.<\/p>\n

Miners led losses as metal prices fell on demand concerns. Energy stocks fell sharply as crude oil prices drifted lower.<\/p>\n

In the UK market, Entain plummeted nearly 9%. Scottish Mortgage, Antofagasta, Glencore, Flutter Entertainment, Halma, Anglo American Plc, Whitbread, Melrose Industries and BP lost 5 to 7%.<\/p>\n

Pershing Square Holdings, Croda International, Rio Tinto, RS Group, Prudential, Informa, Avast and Smith (DS) ended more than 4% down. Shell, Aveva Group, Aviva, IAG, Dechra Pharmaceuticals, Taylor Wimpey and Natwest Group also declined sharply.<\/p>\n

Sainsbury (J), Kingfisher, Tesco, Coca-Cola HBC, Unilever and Hargreaves Lansdown gained 1 to 2.3%.<\/p>\n

In the French market, Atos, Accor, WorldLine, Dassault Systemes, Pernod Ricard, Schneider Electric, Veolia, L’Oreal, Teleperformance, Legrand, STMicroElectronics, Publicis Groupe, LVMH, Kering, Capgemini and Safran lost 2.5 to 4.5%.<\/p>\n

In Germany, Deutsche Post dropped more than 6.5%. Infineon Technologies shed more than 6%. The company reported that its profit for the second quarter of 2022 climbed to 469 million euros from 203 million euros in the prior year. <\/p>\n

Deutsche Wohnen lost more than 4%. The property company posted a decline in funds from operations for the first quarter on lower rent revenues.<\/p>\n

MTU Aero Engines, Puma, Vonovia, Adidas, Volkswagen, Allianz, Siemens Healthineers and Siemens lost 2 to 5%.<\/p>\n

Shares of multinational online food delivery service firm Delivery Hero tanked 13.3%.<\/p>\n

In economic news, eurozone’s investor confidence declined to a near two-year low in May as early indicators suggest that the currency-bloc is moving towards recession following the war in Ukraine, results of a closely-watched survey showed.<\/p>\n

The investor confidence index dropped more-than-expected to -22.6 in May from -18.0 in April, the behavioral research institute Sentix said. The score was forecast fall to -20.8.<\/p>\n

The third consecutive decline took the index to its lowest since June 2020.<\/p>\n

Data from customs office showed France’s trade deficit increased to EUR 12.4 billion from EUR 10.4 billion in February.<\/p>\n

Exports dropped slightly by 0.1% from the previous month, while imports advanced 3.5% in March. On a yearly basis, exports and imports grew 18.2% and 27.1%, respectively. <\/p>\n<\/p>\n

Market Analysis<\/p>\n<\/div>\n