European Stocks Dive At Open After Asia Selloff

Faizan Hashmi Published September 20, 2021 | 01:18 PM

Europe's main stock markets sank in opening deals on Monday after a vicious selloff in Asia, as fears grew over a possible collapse of debt-laden property giant China Evergrande

London, Sept 20 (UrduPoint / Pakistan Point News - 20th Sep, 2021 ) :Europe's main stock markets sank in opening deals on Monday after a vicious selloff in Asia, as fears grew over a possible collapse of debt-laden property giant China Evergrande.

London's benchmark FTSE 100 index lost 1.0 percent to 6,894.33 points, compared with Friday's closing level.

In the eurozone, Frankfurt's DAX 40 dropped 1.9 percent to 15,202.28 on the first day that the index was expanded from 30 to 40 companies.

And the Paris CAC 40 slid almost 1.7 percent to 6,461.07 points.

Sentiment was also affected by the Federal Reserve's plans to taper monetary policy, surging Delta infections, elevated inflation, and signs of weakness in the global recovery.

"European markets have opened on the back foot with Chinese Evergrande concerns front and central as fears of contagion rise," City Index analyst Fiona Cincotta told AFP.

"Add into the mix worries about what Wednesday's Fed meeting could bring, rising prices and the European energy crisis, and there seems little for the markets to cheer as the week kicks off."