Stock exchanges in Europe followed Friday’s pattern, with major indices losing. On Monday, the fall continued. The biggest drop in shares occurred on the Frankfurt Stock Exchange, where the DAX index lost more than two percent of its value.
Which indices were hit the heaviest?
The pan-European Stoxx 600 stock index lost more than 0.8 percent in Monday’s trading. However, the biggest drop was recorded on the Frankfurt Stock Exchange. The country’s main INDEX, the DAX, lost nearly 2.5 percent. Almost two percent drops also occurred on the stock exchanges of Paris and Milan. Madrid lost a little less, less than a percent.
The main reason for this was the rapid rise in the price of natural gas on the European market. Investors began to worry that this could be another severe blow to the European economy in the ongoing energy crisis. The euro also weakened against the dollar.
Wall Street also affected
The bad mood on Monday afternoon also managed to spread across the ocean to Wall Street. The three major indices of the New York Stock Exchange lost 1.4 percent (Dow Jones) to 2 percent (Nasdaq) in early trading. The S&P 500 initially lost about 1.7 percent. Several key markets in Asia also finished in the red earlier.
