It’s a tense trading day, dominated by a falling dollar, uncertainties over US monetary policy, contradictory signals on the international trade front and escalating tensions in the Middle East.
Faced with these multiple sources of instability, Europe’s major stock markets opened sharply lower. In Paris, the CAC 40 dropped 0.62% to 7,727 points, while in Frankfurt, the DAX was down 0.70% and the EuroStoxx 50 lost 0.81%.
The pan-European Stoxx 600 index posted its fourth consecutive session of declines, undermined by the downturn in the technology sector (-0.80%) and declining risk appetite. Only the energy (+0.94%) and utilities (+0.19%) sub-sectors survived.
Dollar down on Fed expectations
The greenback continued its depreciation on Thursday, reaching its lowest level in seven weeks against a basket of currencies. The dollar index briefly fell to 98.246, a level not seen since April 22, before recovering slightly to 98.419.
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