News Formal

European markets lower; tech stocks down 2.6% following declines on Wall Street

  • 📰 CNBC
  • ⏱ Reading Time:
  • 31 sec. here
  • 13 min. at publisher
  • 📊 Quality Score:
  • News: 54%
  • Publisher: 72%

World Economy News

World Markets,FTSE MIB,CAC 40 Index

European stocks fell sharply at the open Wednesday, following steep losses on Wall Street Tuesday and in Asia-Pacific markets overnight.

Traders work on the floor at the New York Stock Exchange in New York City, U.S., August 30, 2024.index was 1.15% lower at 9:11 a.m. in London, with all sectors in the red. Technology stocks dropped 2.66% as travel stocks shed 1.9%.saw chip names come under pressure after two readings of U.S. manufacturing production implied slowing growth for the U.S. economy.

economy's doing any more than slowing its growth rate, or earnings are really falling at an index level in a meaningful way," Freddie Lait, chief investment officer at Latitude Investment Management, told CNBC's "RBC adds oil and gas stock with 25% upside to its outperforming basket of stocks "To me, it's much more about momentum and technicals than it is about fundamentals at the moment, and that's frankly what led the market last month in that big crash and recovery that we saw. It's not individual, long-term, fundamental investors driving these markets anymore.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in UK
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

European markets open lower; tech stocks down 2.5% following declines on Wall StreetEuropean stocks fell sharply at the open Wednesday, following steep losses on Wall Street Tuesday and in Asia-Pacific markets overnight.
Source: CNBC - 🏆 12. / 72 Read more »

Jim Cramer's top 10 things to watch in the stock market ThursdayWall Street looks to rebound after a losing session Wednesday driven by a pullback in Nvidia.
Source: CNBC - 🏆 12. / 72 Read more »