5/18, 5:36 PM (Source: TeleTrader)
more TeleTrader news

Europe plunges at close amid soaring inflation

Major stock markets across the European continent closed Wednesday's session with significant losses as concerns related to the surging inflation pushed negative sentiment among investors.

Amid the latest data on the Eurozone's and the United Kingdom's growth of consumer prices during April, Brussels announced a new strategy to reduce the bloc's dependence on the imports of Russian energy products.

The DAX tumbled 1.26% or 178 points at the closing bell, with HelloFresh SE plunging 10.80%. The FTSE 100 fell by 1.07%, while the CAC 40 lost 1.20%. The euro decreased by 0.53% against the dollar to sell for 1.04941 at 5:28 pm CET, while the pound plunged 0.74% to $1.24001.

Baha Breaking News (BBN) / ND