European shares fell for the fourth consecutive session today, as investors worried about the impact of rising tension between Ukraine and Russia and central banks’ determination to curb inflation on economic growth and corporate profits.
The pan-European Stoxx 600 index fell 0.6% by 07:08 GMT, its lowest since Oct. 3.
The index fell more than 3% in four sessions amid fears that major global central banks, especially the Federal Reserve (the US central bank), will continue to raise interest rates aggressively to tame inflation, according to Archyde.com.
Those fears were exacerbated after data on Friday showed resilience in the US jobs market in September, denting hopes that the Federal Reserve will reverse its approach soon.
All sector indices for the Stoxx 600 fell in early trading, led by technology shares, which fell 1.4 percent.
Shares of European chip makers, including Infineon and PE Semiconductor, fell between 1 and 2% after Washington deployed a comprehensive set of export controls, including a measure to deprive China of some chips made anywhere in the world with equipment. American.