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Will INDEXDJX: .DJI open concerned with EU shares dropped?

James Albert by James Albert
May 16, 2022
in Dow Jones, Dow Jones Market Zoom, Special, Stock Market Today, US Stock Market Outlook, US Stocks
0

Home » Will INDEXDJX: .DJI open concerned with EU shares dropped?

European shares slide as weak China information feeds economic crisis worries

European shares opened up lower on Monday, with French stocks down nearly 1%, as amazingly weak economic information from China fanned global economic downturn worries.

The pan-European STOXX 600 index (. STOXX) dropped 0.6% by 0715 GMT on Monday, after publishing its first once a week gain in 5 on Friday.

China’s April retail sales plunged 11.1%, almost twice the loss forecast, while industrial output dropped 2.9% when experts had searched for a small boost, adding to anxieties that the globe’s second-biggest economic climate can contract this quarter amidst COVID-19 lockdowns. read more

Europe’s traveling and also recreation industry (. SXTP) led losses among sub-indexes, down 1.4%. Health care stocks (. SXDP) were the biggest drag, while deluxe names consisting of Louis Vuitton-owner LVMH (LVMH.PA), which derives a piece of its demand from China, fell 1.1%.

Bucking the trend, the telecommunications industry (. SXKP) was up 0.6%, buoyed by a 3.5% jump in Vodafone (VOD.L), after Emirates Telecom Group (ETISALAT.AD) purchased a 9.8% stake in the firm.

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James Albert

James Albert

James Albert is a personal-finance analyst for FintechZoom and is based in New York. Contact: [email protected]

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