Christine Lagarde
chose not to repeat her previous comment that a 2022 rate hike was unlikely, while pressure also arrived after the opening of markets on Wall Street, where Meta plunged 26 per cent in early trading – a historic loss of more than €200 billion from its market value.The Iseq closed down 2.1 per cent in a difficult trading session, with declines for most of its biggest stocks.dropped 1.2 per cent to €45.68, and packaging groupsank 6.6 per cent to €125.
Strong quarterly earnings from companies in the energy and consumer sector helped limit some losses. Shares ingroup rose 4 per cent after the catering giant said its first-quarter revenue had reached 97 per cent of pre-pandemic levels.was up 1.4 per cent after it boosted its dividend and share repurchases, and its fourth-quarter profit soared to $6.4 billion.’s shares jumped 8.
The sector was also pressured by a spike in bond yields after investors suffered jitters over a possible tightening of monetary policy by the ECB.European banks were the best performers, while telecom stocks were supported bySwiss drugmakerfell 2.4 per cent after saying sales growth would slow this year as it braces for less demand for its Covid-19 medicines and diagnostics., the world’s third biggest advertising agency, added 0.
The tech-heavy Nasdaq fell 2.2 per cent as shares of other social media companies also took a beating.
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