Bullet points of European markets close 1% lower as investors focus on Middle East escalation
Bullet points of European markets close 1% lower as investors focus on Middle East escalation
- European stocks ended the day lower due to conflict in the Middle East, with the pan-European Stoxx 600 provisionally closing 1% lower.
- Construction and materials stocks fell 2%, while oil and gas stocks were the only ones to hold onto gains, ending the day 0.3% higher.
- Auto stocks slumped 2.17% on reports of potential tariffs on Chinese electric vehicle makers, with Stellantis, Volvo, Porsche, and Renault pulling back.
- Israel attacked central Beirut, killing at least six people, as it pursues Iran-backed armed group Hezbollah, and the conflict is weighing on regional investor sentiment.
- The European Union may impose tariffs of up to 45% on Chinese electric vehicle makers as soon as Friday, which could further impact the auto industry.
- Hong Kong stocks plunged as the China stimulus rally appeared to ease, and markets in mainland China remain closed until October 8.
- In the US, stocks dipped after weekly initial jobless claims came in slightly higher than expected, ahead of the September payrolls report on Friday.
- European stocks ended the day lower due to conflict in the Middle East, with the pan-European Stoxx 600 provisionally closing 1% lower.
- Construction and materials stocks fell 2%, while oil and gas stocks were the only ones to hold onto gains, ending the day 0.3% higher.
- Auto stocks slumped 2.17% on reports of potential tariffs on Chinese electric vehicle makers, with Stellantis, Volvo, Porsche, and Renault pulling back.
- Israel attacked central Beirut, killing at least six people, as it pursues Iran-backed armed group Hezbollah, and the conflict is weighing on regional investor sentiment.
- The European Union may impose tariffs of up to 45% on Chinese electric vehicle makers as soon as Friday, which could further impact the auto industry.
- Hong Kong stocks plunged as the China stimulus rally appeared to ease, and markets in mainland China remain closed until October 8.
- In the US, stocks dipped after weekly initial jobless claims came in slightly higher than expected, ahead of the September payrolls report on Friday.