Track global negativity ahead of key inflation data

European markets were choppy on Monday as volatility continued amid concerns over economic growth and central bank monetary policy.

The pan-European Stoxx 600 hovered around the mid-afternoon flatline, after falling more than 0.8% in early trade. Retail and chemicals both rose 2% while utilities fell 1[ads1].1%.

Along with concerns over interest rate hikes by central banks and their impact on economic growth, markets in Europe are also following developments in Ukraine, where the war shows signs of escalating. Several explosions hit the center of Ukraine’s capital Kyiv on Monday.

European shares initially followed negative global sentiment as investors bet that last week’s US jobs data will keep the Federal Reserve on an aggressive path of rate hikes. However, the opening losses were all but erased by late morning.

U.S. stock futures were higher in early deals Monday, with Wall Street looking ahead to key inflationary pressure on Thursday and the start of the corporate earnings season.

Markets in the Asia-Pacific retreated overnight, with Hong Kong’s Hang Seng Index leading losses as Chinese chip shares listed in the city plunged following new export rules from the US

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