Major European stock exchanges slumped into deal opening Monday after a massive sell-off in Asia, as fears grew over a possible collapse of debt-laden real estate giant China Evergrande
London, September 20 (UrduPoint / Pakistan Point News – September 20, 2021): Major European stock markets sank in opening deals on Monday after a massive sell-off in Asia, as fears grew over a possible collapse of the giant real estate laden with debt China Evergrande.
London’s benchmark FTSE 100 fell 1.0 percent to 6,894.33 points, from Friday’s closing level.
In the eurozone, the Frankfurt DAX 40 fell 1.9% to 15,202.28 on the first day the index rose from 30 to 40 companies.
And the Parisian CAC 40 slipped nearly 1.7% to 6,461.07 points.
Sentiment has also been affected by the Federal Reserve’s plans to reduce monetary policy, the surge in Delta infections, high inflation and signs of weak global recovery.
“European markets have opened back with Chinese concerns of Evergrande in the foreground as contagion fears increase,” City Index analyst Fiona Cincotta told AFP.
“Add to the mix concerns about what Wednesday’s Fed meeting might bring, rising prices and the European energy crisis, and it looks like the markets are not cheering at the start of the week.”