Europe closes lower, DAX, CAC tumble over 2%

Friday, 22. April 2022 17:33

Major European indexes closed lower on Friday, with both DAX and CAC 40 plunging over 2%. European Central Bank shared that the supply chains are currently "extremely vulnerable to disruptions" due to the Russia-Ukraine conflict. Bank of England warned that inflation in the UK would continue to increase due to the global energy crisis.

Meanwhile, PMI reports in the UK, Germany and Eurozone were all released earlier today, showing disappointing results.

The DAX plummeted 2.48% or 360 points at the close, with Covestro leading the losses, tumbling 10.37%. At the same time, London's FTSE 100 lost 1.39% as B&M declined 6.07%. The CAC 40 slid 2% at the closing bell, with Kering falling 4.32%.

The euro was 0.42% lower against the dollar at 5:33 pm CET, selling for $1.07880. The pound lost 1.38% to go for $1.28508 at the same time.

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Author:
Baha Breaking News (BBN) / AY