Stock market: Europe worsens with fears China, Milan – 2.2%
European stock exchanges are worsening with fears that Covid
could slow down Chinese growth and create problems for the global supply chain in an already complicated context due to the price race, monetary tightening and the war in Ukraine. Milan and Paris lost 2.2%, London 2.1% and Frankfurt 1.5%. Futures on the main New York indices also fell by about 1%. Leading the falls in a Europe that fails to celebrate Emmanuel Macron’s victory in the French presidential elections are oil (-4.2% the Stoxx index), commodities (-2.5%) and luxury stocks (-4.2%), which pay for the collapse in the price of raw materials and fears of a drop in Chinese demand.
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