European markets concluded Monday’s trading session on a downward trajectory, commencing the new trading week with a negative tone following overnight declines in the Asia-Pacific region.
The Stoxx 600 index wrapped up the day with a 0.4% decrease, with most sectors finishing in negative territory. Notably, technology stocks spearheaded the losses, plummeting by 2.1%, while food and beverage stocks managed to eke out a modest gain of 0.3%.
Shares of Austria’s Raiffeisen Bank closed 7.4% lower amidst apprehensions of potential U.S. sanctions due to its dealings with Russia.
Additionally, Telecom Italia witnessed a decline of 4.4% following analysts’ concerns last week regarding the anticipated debt level post the sale of its fixed-line network, which exceeded expectations.
In the Asia-Pacific region, Japanese stocks experienced the most significant losses after the country successfully avoided a technical recession, paving the way for its central bank to consider raising rates. Meanwhile, investors also evaluated China’s inflation figures.
As trading began in the United States, stocks registered declines early on, with the Dow Jones Industrial Average concluding its worst week since October. Investors remained vigilant, eyeing upcoming inflation data slated for release later this week.
