European stocks drop at open as euro nears dollar parity | The Guardian Nigeria News - Nigeria and World News

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Europe's main stock markets retreated at the open Tuesday, as the euro came ever closer to parity with the dollar, on growing expectations that the eurozone would fall into recession.

Euro banknotes are displayed for a photograph taken on 6 Sept. 2020. Gerard Bottino | SOPA Images | LightRocket | Getty Images

Frankfurt’s DAX index slid 0.6 percent to 12,752.36 points and the Paris CAC 40 retreated 0.5 percent to 5,965.66.The euro earlier slumped to $1.0006 as a reduction in Russian gas supplies to Europe heightened recession fears. With relations between Russia and the West at their lowest in years because of the invasion of Ukraine, Gazprom may not reopen the valves, according to analysts.

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