London, Monday, 22 August 2022
The Stoxx 600 and the Dax both fell 1.2% on Monday, with the losses being led by shares of the car, chemical, and technology industries.
Investors are growing more concerned about a European recession as worries about the Fed raising interest rates more aggressively have reappeared.
Gazprom has announced that it will stop providing natural gas to Europe for three days at the end of the month to conduct routine maintenance, adding to the ongoing energy crisis.
Shares of Uniper were down roughly 7% on a corporate level. Flash PMI data that is due tomorrow will provide an update on the activities of the European private sector this month, and attention will also be focused on the minutes from the most recent ECB meeting.
(Report by: The Decision Maker – Finance editors)