European shares tumble as global equity rout amplifies
For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window
STOXX 600 drops 2.7%
France's AXA gains after deal talks with BNP Paribas
Tech index slides 6.1%, banks index off 4.3%
STOXX fear gauge touches highest level since March 2023
Updated at 1600 GMT
By Pranav Kashyap and Shashwat Chauhan
Aug 2 (Reuters) -Europe's STOXX 600 fell close to 3% on Friday as global equity markets ran into turbulence after a U.S. jobs report exacerbated worries of an economic slowdown in the world's biggest economy, with financials and tech the worst hit.
The pan-European STOXX 600 index .STOXX dropped 2.7% to 497.85 points, hitting an over three-month low.
Most European sub-indexes traded lower, with the technology sector .SX8P falling 6.1%,its biggest one-day decline since October 2020, tracking a sell-off on Wall Street. .N
Global equity markets were rattled after data showed the U.S. unemployment rate jumped to near a three-year high of 4.3% in July amid a significant slowdown in hiring, heightening fears the labor market was deteriorating and potentially making the economy vulnerable to a recession.
"This was a bad news report for the market and will continue the growth scare that has been roiling equities lately," said Lara Castleton, U.S. head of portfolio construction and strategy (PCS) at Janus Henderson Investors.
"Equities selling off should be seen as a normal reaction, especially considering the high valuations in many pockets of the market. It's a good reminder for investors to focus on the earnings of companies going forward."
A STOXX fear gauge .V2TX hit an over one-year high of 24.52 points.
The financial sector .SXFP lost 5.2%, while banks SX7P shed 4.3%, extending declines from the previous session when the sector was hit by downbeat earnings and prospects of global monetary policy easing.
Lower rates could weigh on interest margins, a key source of income for lenders.
Global equity markets were hit hard in the previous session following a dismalreading in U.S. manufacturing activity on Thursday, which plunged to an eight-month low in July, dampening hopes of a soft landing for the economy.
A handful of defensive stocks, companies which tend to provide consistent dividends and stable earnings regardless of the state of the overall stock market, were the rare winners.
Individual heavyweights such as consumer staples majors Unilever ULVR.L and Nestle NESN.S and healthcare firms AstraZeneca AZN.L and Sanofi SASY.PA gained between 0.3% and 1.3%.
Among other movers, Dutch specialty chemicals makerIMCD IMCD.AS added 6.7% after beating estimates on second-quarter EBITA.
French insurer AXA AXAF.PA was up 1.4% after BNP Paribas BNPP.PA said it is in exclusive talks with the company to acquire its AXA Investment Managers arm for 5.1 billion euros ($5.50 billion).
Meanwhile, Switzerland'sannual inflation rate held steady at 1.3% in July, in line with analysts' expectations, encouraging bets that the central bank could lower borrowing costs again next month.
European shares sold off sharply in the last two sessions https://tmsnrt.rs/3LMFFf3
Reporting by Pranav Kashyap and Shashwat Chauhan in Bengaluru; Editing by Janane Venkatraman, Sonia Cheema and Sharon Singleton
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。