Europe sinks deeper amid US inflation-prompted worries

Thursday, 13. May 2021 10:57

Shares in Europe extended losses on Thursday, sinking deeper into the negative territory as fears of the United States Federal Reserve upping the interest rates earlier than what was anticipated persisted after a worse-than-expected inflation data.

Adding to the negative sentiment, British Foreign Office Minister James Cleverly warned of a potential slowdown in the relaxation of COVID-19 containment measures that the emergence of the Indian coronavirus variant could bring about.

The DAX tumbled 2.06% or 311 points at 10:55 am CET, while the CAC 40 concurrently dropped 1.88%. The FTSE 100 plunged 2.34% a minute later. The euro lost 0.12% versus the dollar at 10:58 am CET, selling for 1.20582, while the pound sterling surrendered 0.17% compared to the greenback, to go for 1.40294 a minute later.

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Breaking the News / BU