Madrid’s stock exchange. The benchmark Stoxx Europe 600 index was down 1 per cent while the FTSE 100 lost 0.3 per cent. The falls came after US markets on Tuesday suffered their worst day since the sharp market sell-off at the start of August, driven by weak data on the state of the manufacturing sector.Global stock markets slid on Wednesday, extending losses from the previous session, as investors worried about a potential US economic slowdown and sold highly valued technology stocks.
Technology stocks led European declines, with Dutch chipmaking equipment group ASML falling 6.9 per cent. The jitters also hit Asian markets, with the region’s tech and semiconductor supply chain companies suffering particularly acute losses.What to expect in Budget 2025: Income tax changes, cost of living payments and how about inheritance tax?
“People are also coming back from their annual leave in August and we’re seeing some profit-taking,” he added. “The market has a cloudy view of tech stocks globally ... we are seeing a natural correction process,” he said. Mohit Kumar, an analyst at Jefferies, said the market was unlikely to suffer the same sized moves as early August as investors had reduced their bets on risky assets.
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