European stocks set to fall after Wall Street sell-off


LONDON — European markets are expected to decline slightly on Friday after Wall Street posted its worst day since 2020, bringing global attention.

The UK’s FTSE 100 is expected to decline by approximately 20 points to 7,483, Germany’s DAX is expected to decline by approximately 57 points to 13,846 and France’s CAC 40 is expected to decrease by approximately 55 points to 6,313.

The Dow Jones Industrial Average fell more than 1,000 points and the Nasdaq Composite fell nearly 5% on Thursday, clearing Wednesday’s rally. The initial relief from the Fed’s decision to ban a more aggressive hike appears to have once again been overshadowed by fears that a sharp hike cycle to curb inflation could hurt economic growth.

US stock futures were mostly unchanged in pre-market trading on Friday ahead of the closely watched employment report for April.

Stocks in Asia Pacific also fell sharply on Friday, with the Hong Kong Hang Seng Index leading the regional losses as tech stocks sold after the tech-focused Nasdaq fell overnight in the US.

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Earnings continue to influence individual stock movements in Europe, with Adidas and IAG, the parent company of British Airways, among the companies closing Friday.

Investors are also monitoring Russia’s progress as Russian forces appear to have expanded their attacks in eastern and southern Ukraine.

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