European stock markets have been under intense pressure since the start of the session, as markets around the world are absorbing data on US inflation, which has raised concerns that we are facing a course of aggressive interest rate hikes.
The FTSE 100 in London fell 1.86% to 7,210.73 points, the Dax in Frankfurt fell 2.23% to 13,521.16 points, the CAC 40 recorded a loss of 2.23% to 6,125.61 points.
The FTSE MIB in Milan fell 1.81%, the IBEX 35 lost 1.55% and the Stoxx 600 fell 2.14%.
Investors worldwide are absorbing data on US inflation, which jumped to 8.3% in April from a year earlier.
Inflation was higher than expected and is close to the 40-year high of 8.5%.
In Europe, the focus is on the results of Bouygues, Allianz, RWE, Siemens and others.
Also, the UK economy shrank 0.1% in March but grew 0.8% in the first quarter of 2022 overall, as official data showed.
The result was lower than expected and signals that the worst has not yet come, as the cost of living crisis in the country escalates.
Source: Capital
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