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Europe stock index falls in week on weight of recession fears

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Europe stock index falls in week on weight of recession fears

European stocks tumbled on Friday after a stronger-than-expected U.S. jobs report reinforced bets on another 75 basis point rate hike by the Federal Reserve next month, as economic fears pushed stocks back. stocks for weekly losses.

The pan-European STOXX 600 index fell 0.8% and extended losses after reports that the US created 528,000 jobs outside the agricultural sector last month, the biggest gain since February.

The STOXX 600 index lost 0.6% this week after two straight weeks of gains on concerns over weak economic data from the region, rising geopolitical tensions and fears that higher interest rates could tip the economy into recession.

“Forward-looking indicators suggest the worst is yet to come… If we are right, the European Central Bank will raise interest rates more aggressively than is currently priced in the market, and the economy will underperform consensus forecasts,” he said. Jack Allen-Reynolds, Senior European Economist at Capital Economics.

  • In London, the Financial Times index dropped 0.11%, to 7,439.74 points;
  • In Frankfurt, the DAX index fell 0.65% to 13,573.93 points;
  • In Paris, the CAC-40 index lost 0.63%, to 6,472.35 points;
  • In Milan, the Ftse/Mib index had a devaluation of 0.26%, to 22,586.88 points;
  • In Madrid, the Ibex-35 index registered an increase of 0.08%, to 8,168.00 points;
  • In Lisbon, the PSI20 index rose by 0.68%, to 6,076.90 points.

Source: CNN Brasil

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