Europe: Tech stocks mark worst day in over four months

📆 3/09/2020 8:02 p. m.
📰 BusinessTimes

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[BENGALURU] European shares retreated on Thursday with technology stocks leading losses in tandem with their US peers, while a swathe of middling local economic data fuelled bets on continued easy monetary policy. Read more at The Business Times.

The European Central Bank is expected to follow the US Federal Reserve in keeping monetary policy easy.

The selling spread to most other European sectors, with travel and leisure stocks among the few still trading positive. "The progress we've seen so far was the low-hanging fruit, but from here on, it will be a lot more difficult to make progress, and that's already coming across in the data," TS Lombard's Cicione said.

French drugmaker Sanofi and its British peer GSK fell despite starting a clinical trial for a protein-based Covid-19 vaccine candidate.

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