Concerns about the state of the world economy led to a decline in European stock prices on Wednesday, October 12. Investors are waiting for US inflation statistics on Thursday.
The retail industry lost 1.9% of its value to lead the morning’s losses, while banks lost 1%. The European Stoxx 600 index concluded the session down 0.1%.
On Tuesday, the International Monetary Fund lowered its forecast for global growth for the following year from 0.5% to 2.7%.
2 percentage points below what was anticipated in July, indicating that millions of people worldwide will experience a condition of stagnation in 2023.
And the majority of sectors and all of the major stock exchanges close the trading day in the red, where the regional markets ended a string of losing days as market volatility continued to undermine employee morale.
In response to Tuesday’s changes in long-term government bonds, which they described as “a material danger to financial stability in the UK,” the Bank of England once more intervened to restore order to the UK markets.
On Wednesday, the anxiety in the bond market persisted as intense gold market sales from the UK spread throughout Europe.
European equities close at a low investor level, and investors are paying close attention to inflation data.
About Author
