Wednesday, June 29, 2022 – 5:23 PM
Global capitals, June 29 / WAM/ European shares fell in today’s trading, after gains that lasted for about 3 consecutive sessions, tracking the decline in Asian markets after the sharp decline in the American Wall Street Stock Exchange, with renewed fears about a global recession due to the continuous hike in interest rates.
By 02.34 pm, UAE time, the German “DAX” index fell by 1.78%, equivalent to 235.25 points, to reach 12,996 points, while the European “Stoxx 600” index fell by 1.19% to reach the level of 411.25 points.
The British “FTSE 100” index fell by 0.67%, equivalent to 48.39 points, to reach the level of 7275.02 points, while the French “CAC” index lost 75.96 points, or 1.25%, to reach 6012.63 points.
US stocks fell sharply yesterday, after data showed that the Conference Board’s index of US consumer confidence fell to its lowest level since February 2021, which renewed fears that the Federal Reserve’s efforts to control inflation may push the US economy towards recession.
The decline in US stocks was followed by a decline in Asian markets, as the Japanese Nikkei index ended the pace of gains that continued for four consecutive sessions.
Umm / Rami Samih / Assem Al-Khouli