5/19, 11:02 AM (Source: TeleTrader)
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Europe extends losses, DAX plunges 290 pts

Major European stock market indexes extended losses on Thursday, with the German DAX plunging 290 points at 11:01 am CET. Negative sentiments from Wall Street's sell-off yesterday seemingly spilled over to Europe.

Previously, Eurostat reported that the inflation in the Eurozone was at 7.4% in April, which possibly raised worries among traders over the future of the global economy, as the European Central Bank is yet to make a decision on interest rates.

The DAX plummeted 2.06% or 289 points at 11:02 am CET. The CAC 40 tumbled 2.04% at 11:03 am CET, while the FTSE 100 nosedived 2.23% at the same time.

The euro added 0.22% against the dollar at 11:03 am CET, selling for 1.04955. The pound traded 0.35% higher versus the greenback, going for 1.23845 at the same time.

Baha Breaking News (BBN) / AY