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Markets

European stocks slide at open

  • London's benchmark FTSE 100 index shed 1.0 percent to 7,078.02 points
08 Jul 2021

LONDON: European stock markets slid at the start of trading on Thursday as fears of strong inflation mounted.

London's benchmark FTSE 100 index shed 1.0 percent to 7,078.02 points.

In the eurozone, Frankfurt's DAX 30 index lost 1.0 percent to 15,540.95 points and the Paris CAC 40 dropped 1.0 percent to 6,463.75.

European shares rise

The Federal Reserve on Wednesday said a recent jump in US inflation had been higher than expected as the world's biggest economy recovers from the pandemic-induced downturn.

That has raised concerns that the Fed, along with other central banks, could reduce their emergency stimulus packages and raise interest rates sooner than expected.

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