European stocks give up two-week high on negative sentiment

Economies.com
10 months ago

European stocks declined on Tuesday away from two-week highs on active profit-taking as investors shun risks, following disappointing data.

 

Dow Jones Stoxx Europe 600 fell 0.8%, after closing up 1.2% yesterday, marking two-week highs at 439.37.

 

The Stoxx Europe index declined away from two-week highs with most sectors in the red, led by the mining sector with a 4.3% loss.

 

The ZEW economic sentiment index fell to minus 38.7 in March, the first negative result since March 2020.

 

In Germany, the same index fell to minus 39.3 in Match, also the first negative result since early 2020.

 

Such negative sentiment is obviously due to the Ukrainian crisis and the economic fallout following that.

 

The Euro Stoxx 50 fell 1.1%, while France's CAC 490 declined 0.9%, as Germany's DAX shed 1.2%, while London's Financial Times 100 fell 1.5%.

 

S&P 500 futures fell 0.5%, after losing 0.75% yesterday.

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