Positive US employment data pushes Europe into the red
European stocks ended the session in negative territory, after the release of more positive than expected data on job creation in the United States, and revealed a strong job market, reducing expectations for a softer policy by the US Federal Reserve.
The Stoxx 600 Index fell 1.18% to 391.67 points. Among the 20 sectors that make up the European standard, technology is the most losing, followed by retail, industry and real estate.
All remaining European markets sank in the Red Sea, with Amsterdam at the fore, down 2.16%. Milan lost 1.13%, Madrid 0.99%, Frankfurt 1.59%, Paris 1.17% and London 0.09%.
Looking at individual companies, Credit Suisse rose 5.4% after announcing a debt buyback to calm the market after recent concerns about the bank’s strength.
“Under normal circumstances, better-than-expected employment data is a good thing and potentially a catalyst for gains in the stock market,” Paul Craig of Quilter Investors told Bloomberg, speaking of the impact of the US news. “But these days we live in a parallel world where good news is bad and bad news is good, as investors try to anticipate the next move of the US Federal Reserve and whether or not it will soften its aggressive stance,” he added.
Andrea Hargraves is a contributor to Brytfmonline.com, covering a broad range of topics including news, politics, business, technology, sports, entertainment, and lifestyle. She is committed to delivering clear, accurate, and reader-focused reporting that helps audiences stay informed about current events and emerging developments. Andrea’s work emphasizes useful information, balanced coverage, and stories that matter to everyday readers, making complex topics accessible and relevant to a wide audience.