TELETRADER News
9/29, 4:12 PM (Source: TeleTrader)
more TeleTrader news

European markets plunge more than 2% amid selloff

Major stock markets in Europe dropped more than 2% as negative sentiment caused by fears of high-interest rates and an impending recession returned after a short pause earlier this week. Investors also digested the latest inflation data from Germany, which showed consumer prices in Europe's largest economy jumped 10% in September.

The FTSE 100 slid 2.28% at 4:11 pm CET with Barratt Development diving more than 13%.

The DAX plunged 2.29% at 4:11 pm CET. Porsche, which started trading on the Frankfurt Stock Exchange today, led the losses, plummeting more than 10%.

The CAC 40 fell 2% at 4:11 pm CET. The worst performers were Alstom and Renault, both down nearly 8%.

The euro was flat against the dollar, going for 0.97297 at 4:18 pm CET, while the pound rose 0.62% compared to the US currency to sell for 1.09595 a minute later.

Baha Breaking News (BBN) / NP