Shares traded in the European market showed a large dip right after the opening bell on Friday following more heightened concerns regarding possible recession in the United States.
In London, the FTSE 100 index decreased by 0. 7 percent to be recorded at 8, 228. 98 points.
However, in the eurozone, the Paris CAC 40 became slightly less by 0. 90% to 7,299. 35 points, while Frankfurt-based DAX depleted 1. 60 % to 17,800. 93 points.
The movements of the market in European countries corresponded to other decreases that were observed throughout the world. Tokyo’s stock market performed the worst in Asia; it was dragged down by a stronger yen and expectations of another rate hike by the Bank of Japan. In the United States, the poor economic indicators caused a sharp downturn in the stock exchange which revived the debate on recession.
Richard Hunter, head of markets at Interactive Investor, said this regarding the occurrence, “There was a quite swift shift in sentiment partly due to corporate and economic results that are causing questions as to whether the Fed is not moving early enough. Even though the Chair of the Federal Reserve, Powell suggested in mid-week that a rate cut was on the cards in September, the market is likely to become more volatile due to the actualization that the Fed might be too