Lates News

Deutsche Bank strategists said: "Widening bond spreads and rekindled inflation concerns made it a difficult day for risk assets." The performance was particularly pronounced in European markets, with the STOXX 600 index falling 1.00%, ending a three-session winning streak; France's CAC 40 index dropped 1.22%, and Italy's FTSE MIB index fell 2.51%, with European bank stocks down 3.38%, making them the worst-performing sector. "This weakness also spread to U.S. markets, with the S&P 500 index falling 0.22%, retreating from the record high set the previous day. Although the index's decline narrowed as trading progressed, stress remained evident beneath the surface, with nearly three-quarters of constituents declining on the day, while industrial and materials stocks fell 2.14% and 1.53%, respectively, with cyclical sectors performing particularly weakly. Tech stocks were relatively resilient, limiting losses for the Nasdaq index and the 'Magnificent Seven,' which fell 0.22% and 0.20%, respectively. However, the small-cap Russell 2000 index dropped 1.31%, hitting a four-month low."