European stocks recorded their worst day in two weeks on Tuesday, as bond yields rose, worries about the war in Ukraine and the looming series of corporate earnings reports made investors jittery.
Energy stocks, on the other hand, outperformed despite the drop in oil prices.
The pan-European STOXX 600 index closed down 0.77% at 456.28 points.
Defensive stocks including healthcare and consumer staples led the declines. All major regional equity markets closed in the red.
But the benchmark ended well off session lows, with energy stocks up 0.5%.
“It’s a general concern about rising yields” on bonds, said Andrea Cicione, head of strategy at TS Lombard.
Sovereign bond rates in Europe and the United States rose on Tuesday on expectations of tighter monetary policies.
- In London, the Financial Times index fell 0.20%, to 7,601.28 points.
- In Frankfurt, the DAX index fell 0.07% to 14,153.46 points.
- In Paris, the CAC-40 index lost 0.83% to 6,534.79 points.
- In Milan, the Ftse/Mib index had a devaluation of 0.96%, to 24,624.41 points.
- In Madrid, the Ibex-35 index registered a drop of 0.06%, to 8,694.00 points.
- In Lisbon, the PSI20 index depreciated by 0.44%, to 6,106.57 points.
Source: CNN Brasil
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