Markets across Europe slumped into the red after a sell-off in US tech stocks drove a widespread decline in sentiment.
Markets across Europe slumped into the red after a sell-off in US tech stocks drove a widespread decline in sentiment. The London markets were slightly protected by stronger mining stocks but nevertheless finished lower as declining confidence in Silicon Valley firms continued. The FTSE 100 closed 51.78 points lower at 5,799.08 at the end of trading on Friday. David Madden, market analyst at CMC Markets UK, said: “Like Thursday, European equity markets have been pulled into the red by the tech-led declines in the US. “Stocks were showing modest gains on the back of the US non-farm payrolls report, but the bearish moves in the US rocked confidence over here. “The FTSE 100 is holding up better than it continental counterparts as the rally in copper has helped mining stocks like Anglo American, Glencore and Antofagasta.” Europe’s other major markets followed for a second consecutive day of broad decline across the global markets. The German Dax decreased by 1.65%, while the French Cac moved 0.89% lower.
