European markets were choppy on Monday as volatility continued amid concerns about economic growth and central banks tightening monetary policy.
the pan-european Stoxx 600 it hovered around the flat line by mid-afternoon, having fallen more than 0.8% in early trading. Retail and chemical stocks rose 2%, while utilities fell 1.1%.
Along with concerns about central bank interest rate hikes and their impact on economic growth, markets in Europe are also keeping an eye on developments in Ukraine, where the war shows signs of escalating. Multiple explosions hit the center of Ukraine’s capital Kyiv on Monday.
European stocks initially followed negative global sentiment as investors bet last week’s US jobs data will keep the Federal Reserve on an aggressive path of interest rate hikes. However, the opening losses were almost erased by the end of the morning.
US stock futures rose in early trading on Monday, with Wall Street expecting a key inflation figure on Thursday and the start of corporate earnings season.
Markets in Asia-Pacific fell overnight, with Hong Kong Hang Seng Index Major losses as city-listed Chinese chip stocks plunged following new US export rules
