11/26/2021, 5:31 PM (Source: TeleTrader)
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Europe down on Black Friday, DAX 660 pts lower

Major stock markets in Europe closed lower on Friday following a season marked by the discovery of a new strain of COVID-19. The news caused a drop in the prices of shares in the United States, cryptocurrencies, and oil. Meanwhile, European Central Bank (ECB) President Christine Lagarde described the rising inflation in Germany and the European Union as concerning but still estimated such a trend will end in January 2022. In the meantime, Bank of England (BoE) Chief Economist Huw Pill warned about the crisis leading to the potential tightening of the labor market.

The DAX traded 4.19% or 667 points lower at the close as Airbus SE plummeted by 11.38%. The FTSE 100 slid by 3.64%, with the International Consolidated Airlines Group SA plunging by 14.85%. The CAC 40 went down by 4.92% as Unibail-Rodamco-Westfield SE nosedived by 11.59%.

The euro increased by 0.93% against the dollar to sell for $1.13117 at 5:27 pm CET. At the same time, the pound stood flat in comparison to the greenback to go for $1.33183.

Baha Breaking the News (BBN) / JR