After Asia selloff, European stocks dive at open

Syed AhadWeb Editor

20th Sep, 2021. 10:24 pm

Main European stock markets dropped in opening deals on Monday after a spiteful selloff in Asia, as doubts raised over a likely downfall of debt-laden property giant China Evergrande.

London’s benchmark FTSE 100 index lost 1.0% to 6,894.33 points, associated with Friday’s closing level.

In the eurozone, Frankfurt’s DAX 40 fell 1.9% to 15,202.28 on the first day that the index was extended from 30 to 40 firms.

And the Paris CAC 40 slid nearly 1.7% to 6,461.07 points.

The sentiment was as well affected by the Federal Reserve’s plans to taper monetary policy, rushing Delta infections, raised inflation, and symbols of weakness in the worldwide retrieval.

“European markets have opened on the back foot with Chinese Evergrande concerns front and central as fears of contagion rise,” City Index analyst Fiona Cincotta told AFP.

“Add into the mix worries about what Wednesday’s Fed meeting could bring, rising prices and the European energy crisis, and there seems little for the markets to cheer as the week kicks off.”

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