European Stock Markets Drop At Open On 23rd Nov, 2021
Umer Jamshaid 15 days ago Tue 23rd November 2021 | 02:01 PM
European equities slid in opening deals on Tuesday, hit by unease over the region's latest Covid restrictions alongside fears of higher US interest rates
London, (UrduPoint / Pakistan Point News - 23rd Nov, 2021 ) :European equities slid in opening deals on Tuesday, hit by unease over the region's latest Covid restrictions alongside fears of higher US interest rates.
In initial trade, London's benchmark FTSE 100 index reversed 0.2 percent to 7,239.40 points.
"Sentiment has turned negative towards European stocks in the last few days," ThinkMarkets analyst Fawad Razaqzada told AFP.
"This is mainly because of concerns over the economic impact of the latest lockdowns as well the efficacy of the Covid vaccines. You would think that Covid cases would be much lower given the high rates of vaccinations.
" The three main indices followed Wall Street lower after a mixed session in Asia.
Asian bourses diverged and the Dollar extended gains as investors bet on a quicker pace of monetary tightening by the Federal Reserve after Jerome Powell was nominated to serve a second term as boss -- and said his goal was to tame the recent spike in inflation.
"President Joe Biden favoured continuity over change in leadership by nominating Jerome Powell for his second term as chairman of the Federal Reserve," noted AvaTrade analyst Naeem Aslam.