European Markets Decline as U.S. Opens Lower, Oil Prices Climb
European stock markets are extending losses, hitting intraday lows, as Wall Street opened lower following the release of U.S. Employment data. February’s employment figures showed a decline greater than expected, with the unemployment rate rising to 4.4%, up from 4.3% the previous month.
the Dow Jones is down 1.5%, although European indices are also falling amid ongoing tensions in the Middle East – with reports indicating calls for unconditional surrender for Iran – and rising oil prices. WTI crude is trading at $87.60 a barrel and Brent has surpassed $90 a barrel.
Milan’s FTSE Mib is down 1.9% and has fallen below 44,000 points, particularly weighed down by banking stocks, with MPS (-5%) and Bper (-4.3%) leading the sector’s declines. The CAC of Paris (-1.6%), the DAX of Frankfurt (-1.9%), the AEX of Amsterdam (-2.1%), the IBEX of Madrid (-2%), and the FTSE 100 of London (-1.5%) are also in negative territory.
