6/10, 5:31 PM (Source: TeleTrader)
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DAX closes 3% in the red after downbeat US data

Stock markets in Europe fell at the end of the trading week, following their United States counterparts that plunged amid concerning inflation and consumer confidence data. The Federal Reserve will likely stay on track with its interest rate hike plan, which could spark worries about a future recession for the world's largest economy. Yesterday, the ECB revealed its own intentions regarding upcoming interest rate increases.

The DAX decreased by 3.08% at the close as Deutsche Bank dropped by 5.85%. London's FTSE 100 closed 2.12% lower with Anglo American plummeting 7.98%. In Paris, the CAC 40 declined by 2.69% at the end of trading. Credit Agricole led the losses, falling 6.43%. The FTSE MIB in Italy tumbled 5.06% at 5:30 pm CET.

The DAX, the CAC 40 and the FTSE MIB nosedived 13.37%, 13.62% and 17.45% since 2022 started.

The euro was 0.92% lower against the dollar, selling for 1.105210 at 5:29 pm CET, while the pound lost 1.41% compared to the greenback, buying 1.23197 concurrently.

Baha Breaking News (BBN) / MS