Europe plunges premarket amid inflation worries

Thursday, 12. May 2022 08:00

Major European markets plunged in premarket trading on Thursday as high inflation continued to worry investors following the latest report from the United States. Market watchers also kept an eye on corporate earnings from companies including Allianz, Siemens, Commerzbank and RWE and economic data from the United Kingdom.

The FTSE 100 dropped 1,67% at 8:20 am CET, the DAX slid 2% and the CAC 40 plunged 2.11%.

The euro lost 0.10% against the dollar to go for 1.05036 at 7:51 am CET and the pound fell 0.40% compared to the greenback to sell for 1.22015 at the same time.

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Author:
Baha Breaking News (BBN) / NP