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European bond spread worries drag global stocks lower
STOXX 600 fell 1.0%, CAC 40 dropped 1.2%, and Italy’s FTSE MIB slid 2.5% as European banks posted the steepest losses.
Deutsche Bank strategists pointed to widening European bond spreads and renewed inflation concerns as drivers of a global equity pullback, with risk sentiment pressured across regions.
In Europe, the STOXX 600 fell 1.0% after three straight gains, while the CAC 40 declined 1.2% and Italy’s FTSE MIB dropped 2.5%. European banks were among the worst performers, down 3.4%.
The weakness spread to the US, where the S&P 500 slipped 0.2% from a record high and more stocks inside the index ended lower, with cyclical sectors like industrials and materials underperforming.
Asian equities also weakened despite Samsung reporting sharp profit growth, while Chinese markets reopened after the Golden Week holiday on a positive note but struggled to hold early gains, according to FXStreet.
Latest closeS&P 500 7,773.95 ▲0.7%|FTSE 100 10,497.90 ▲0.3%