LONDON—European stocks declined Monday, tracking losses in Asia as worries over interest rate hikes dominated an array of investor concerns.
Asian markets suffered their worst session in over a month as worries that Beijing could soon be back in lockdown sent Chinese shares back to 2020 lows, and as the effects of Wall Street’s 2.5 percent slump on Friday lingered.
The bashing continued in Europe. The STOXX 600 index dropped to its lowest since mid-March, weighed by 2 percent and 1.9 percent drops in French and German shares, respectively. The euro slid 0.75 percent to its lowest since the initial COVID-19 panic of March 2020.
“The reality is there is more to the French election story than Macron’s win yesterday,” said Rabobank FX strategist Jane Foley.
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