US stocks end lower on fears over energy crisis and Covid-19

European shares fell on Monday (11), pressured by economy-sensitive papers, as investor concerns about a possible energy supply crisis to the mainland and new cases of Covid-19 in China dampened risk appetite and fears about a recession have increased.

Nord Stream I, the largest pipeline transporting Russian gas to Germany, starts its annual maintenance on Monday. Flows are expected to stop for ten days, but governments, businesses and markets fear the closure will be extended due to the war in Ukraine.

The pan-European STOXX 600 index closed down 0.50% at 415.02 points and ended a three-day streak of gains after posting its best week in seven on Friday.

The auto sector, which is heavily exposed to China, dropped 2.8%, the biggest among European sectors, and dragged the German DAX index down.

Miners tumbled 1.9% after metals and iron ore prices tumbled on concerns that rising Covid-19 cases in Shanghai will lead to more restrictions. [MET/L][IRONORE/]

Investors are concerned about the effects of the disruption in gas supplies on industries at large, said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, adding that if emergency government plans include rationing, they would actually hurt growth in economies. highly dependent on exports from Russia.

• In London, the Financial Times index remained stable at 7,196.59 points;
• In Frankfurt, the DAX index fell 1.40% to 12,832.44 points;
• In Paris, the CAC-40 index lost 0.61%, at 5,996.30 points;
• In Milan, the Ftse/Mib index had a devaluation of 0.95%, to 21,567.70 points;
• In Madrid, the Ibex-35 index registered a drop of 0.43%, to 8,065.20 points;
• In Lisbon, the PSI20 index rose by 0.09%, to 6,001.00 points.