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European stocks fall to their lowest level in two months

2022-05-09T19:05:49.115Z


London, SANA- European shares hit two-month lows, led by sectors including travel, entertainment and technology


London-Sana

European shares hit two-month lows, led by sectors including travel, entertainment and technology, amid fears that restrictions imposed against the Corona virus in China will last for an extended period and a jump in bond yields fueled selling pressure.

The European Stoxx 600 index ended the trading session down 2.9 percent, touching its lowest level since the eighth of last March, and the travel and leisure companies were the top losers, with a 6.0 percent drop.

Technology stocks fell 5 to their lowest levels since November 2020, while US and European government bond yields jumped to multi-year highs on bets on faster interest rate increases aimed at calming a jump in inflation.

A member of the European Central Bank's monetary policy committee said the bank should raise interest rates up to three times this year to fight inflation.

Mining companies were also hit, whose index closed down 4.4 percent, and while investors awaited the latest inflation readings in the United States, the benchmark S&P 500 and the Dow Jones Industrial Average on Wall Street hit their lowest levels this year.

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Source: sena

All business articles on 2022-05-09

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