European shares fell today, Thursday, as the European “Stoxx 600” index fell 1.4%, with the French “CAC 40” index down 2%.
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European stocks fall
European shares fell on Thursday, on track to record their worst quarter since the massive plunge during the “Covid 19” pandemic in early 2020, as investors grew concerned about a global recession following tough central bank measures to tame rising inflation.
The European “Stoxx 600” index fell 1.4% by 07:09 GMT, with the French “CAC 40” index falling 2%, after preliminary official data revealed that inflation rose more than the previous month to a record level of 6.5%.
The Stoxx 600 index fell for the second day in a row, after the heads of global central banks stated that “measures to reduce high inflation around the world will be painful and may lead to a collapse in growth.”
Sectors related to the economy led the decline in early trading, with the basic resources and autos indices dropping between 1.9% and 2.1%.
On the individual level, Uniper shares fell 17.5% after the German utility company withdrew its forecasts for the 2022 fiscal year, due to gas supply restrictions from the Russian company, Gazprom.