European shares slump on risk-off mood after US selloff
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Sep 04 2024
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Should l Buy ?
Source: Reuters
European Stock Market Decline: European stocks fell to a two-week low due to concerns over a potential slowdown in the U.S. economy and weak manufacturing data from China, with the pan-European STOXX 600 index dropping 1% and all major markets experiencing losses.
Sector Performance and Economic Outlook: Semiconductor companies were notably affected, with ASML Holdings declining nearly 5%. Despite current selling pressures, European equities remain 7.5% higher for the year, buoyed by expectations of lower borrowing costs in 2024, although underlying demand in the euro zone remains weak.
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
