LONDON — European markets opened lower Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus.index was down 1.07% at 8:18 a.m. London time, as technology stocks tumbled 2.84%. Household goods managed a 0.3% rise, as consumer goods giantSign up for our free Olympics Headlines newsletter.
Data will be released on German consumer confidence and euro zone and U.K. business activity, ahead of next week's euro zone gross domestic product second-quarter print.record their worst sessions since 2022. Analysts noted a market rotation out of mega-cap stocks into more cyclical areas of the market all through last week, which was compounded Wednesday when earnings from
"Markets saw a massive slump yesterday, as the combination of weak earnings and poor data hit investor sentiment," Deutsche Bank strategists said in a Thursday note."That led to some very big losses, with the Magnificent 7 posting its worst day since September 2022, leaving it in technical correction territory after falling over -10% from its record just two weeks earlier.
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