European Stocks Fall on US Jobs Report Data
Brussels, August 02 (QNA) – The European Stoxx 600 index fell by about three percent at the end of Friday’s trading, after the US jobs report exacerbated fears of a slowdown in the world’s largest economy.
The Stoxx 600 index fell by 2.7 percent, closing at 497.85 points, recording its lowest levels in more than three months.
Most European sub-indices declined, as the technology sector plunged by 6.1 percent in its biggest daily decline since October 2020, while the financial sector lost 5.2 percent, and banking stocks lost 4.3 percent, continuing their decline for the second session in a row.
Global stock markets were affected after data showed that the unemployment rate in the United States rose to a three-year high of 4.3 percent in July. (QNA)
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