European stocks dive to 3-week low amid sell-off in tech sector

2021-02-23 14:05:37 GMT (Economies.com)
European stocks dive to 3-week low amid sell-off in tech sector

European stocks fell on Tuesday, to continue falling for the second straight day, and hit a 3-week low, due to a broad sell-off in the tech sector, and investors' risk aversion ahead of the Federal Reserve Chief's testimony before the US Congress.

 

The Stoxx Europe 600 index fell 0.9% as of 11:33 GMT, and hit the lowest since February 3 at 406.7 points, after closing lower by 0.4% yesterday due to fears about the rising US Treasury yields.

 

The tech sector saw the largest losses in Europe today, falling around 3.5%, after a broad sell-off wave of the US tech companies during the after-market trading on Wall Street.

 

At 15:00 GMT, Fed Chair Jerome Powell will testify on the Semiannual Monetary Policy Report before the Senate Banking Committee, via satellite.

 

S&P 500 futures fell 1%, and hit a 3-week low after the index closed lower by 0.8% yesterday at Wall Street.

 

Back to Europe, the Euro Stoxx 50 index fell 0.9%, France's CAC 40 fell 0.25%, and Germany DAX index fell 1.2%.

 

The UK's FTSE 100 fell 0.4%, due to fears over the British export companies' losses as the pound continues to jump above the $1.4 barrier for the first time in three years.

 
 
 
  Symbol Last Change Chg.%
1.1911
-0.0143
1.1851%
1.3838
-0.0097
0.6972%
Tadawul
9242.28
-68.88
0.74%
25.247
-1.621
6.035%
66.283
4.812
7.828%
69.56
2.85
4.27%
1700.790
-39.040
2.244%
 
 
US
 
Europe
 
Asia