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Europe's STOXX 600 slumps on risk-off mood after US selloff
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Europe's STOXX 600 slumps on risk-off mood after US selloff
Sep 6, 2024 1:49 AM

(For a Reuters live blog on U.S., UK and European stock

markets, click or type LIVE/ in a news window)

Sept 4 (Reuters) - European stocks opened sharply lower

on Wednesday, as global markets were rattled by concerns of an

imminent slowdown in the United States, while investors eyed

more economic data from the euro zone.

The pan-European STOXX 600 index fell 1% by 0710

GMT, while all other major European markets were also down

around 1%.

The losses tracked an overnight selloff in Wall Street's

main indexes, all of which recorded their biggest daily

percentage declines since early August, with sentiment weakened

by weak manufacturing data.

Semiconductor companies were the top losers in early

trading, with ASML Holdings falling 5.3%, tracking a

rout in Nvidia's stock on Tuesday.

Barratt slid 1.4% after the British housebuilder

said housing demand continues to be sensitive to mortgage

affordability after it posted a 56% slump in its annual profit.

Investors will be hawkeyed on euro zone's HCOB services

Purchasing Managers' Index at 0800 GMT and July producer prices

data at 0900 GMT, for more light on the region's economic health

and the interest rate outlook.

Services PMI from Germany, Spain, Italy and France is also

due later in the day.

(Reporting by Shubham Batra in Bengaluru; Editing by Varun H K)

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