Home ›› 22 Jan 2022 ›› Stock
European stock markets sank Friday, with sentiment rattled by fresh Wall Street losses and US tech-sector woes, while oil prices and bitcoin also dipped before the weekend as investors sought safety, dealers said.
London equities slid 1.1 percent just after midday in the British capital, while Frankfurt and Paris dived 1.8 percent and 1.6 percent respectively in early afternoon eurozone deals.
New York slumped once more Thursday on the prospect of several US Federal Reserve interest rate hikes this year, while Asia mostly languished in the red ahead of the weekend.
Oil prices retreated from recent seven-year highs on news of rising US crude inventories, which indicates weaker demand in the world’s top consumer.
Bitcoin fell below $39,000, sitting far below last November’s record of almost $69,000.
“Risk-off sentiment and a sell-off on Wall Street are sending shockwaves across global markets,” said Interactive Investor Victoria Scholar.
Sentiment took another knock as US entertainment streaming giant Netflix reported cooling 2021 subscriber growth in after-hours results, having boomed during Covid lockdowns on surging demand from home-bound consumers.
The news came after Peloton’s shares tumbled Thursday on a report that the US fitness firm planned to suspend production of bikes and treadmills on falling consumer demand.
