The European markets are in the red, the German DAX is diving 2.2%

European stock markets continue to suffer heavy losses in Wednesday’s trading as the EU announces new sanctions against Moscow after the global shock of the atrocities of the Russian troops in the city of Bukha in Ukraine and in other areas near Kyiv.

The European Union will also impose new sanctions on Russia after the last package announced on Tuesday and these are likely to include measures against Russian oil imports, European Commission chief Ursula von der Leyen said on Wednesday.

“These sanctions will not be our last,” she told the European Parliament.

For his part, European Council President Charles Michel referred to the need for new sanctions, noting that “measures in oil or even gas will also be needed, sooner or later”.

Concerns are mounting today with concerns about an aggressive monetary policy campaign by the US Federal Reserve that could test the strength of the economic recovery.

These concerns were triggered by yesterday’s statements by Fed member Lael Brainard that the central bank might start cutting its balance sheet “at a rapid pace” even in May, while at the same time continuing its successive interest rate hikes. to curb inflation. The 10-year US yield climbed to a three-year high of 2.63% in the wake of Brainard statements.

On the board, the pan-European STOXX 600 index plunged 1.9% to 454.44 points after three consecutive uptrends.

The German DAX lost 2.2% at 14,106.54 points, the French CAC 40 fell 2.4% to 6,490.13 points, while the British FTSE 100 recorded lower losses of 0.6% to 7,568.82 points.

In the periphery, the Italian FTSE MIB plunged 2.5%, while the Spanish IBEX 35 lost 2%.

Growing concerns about the risk of a slowdown in growth, data released today in Germany showed that industrial orders fell more than expected in February, as demand from abroad fell.

In particular, orders fell 2.2% in February from the previous month, losing analysts’ estimates in a Bloomberg poll for a milder decline of 0.3%.