BEIJING—Global stock markets sank Monday as Europe faced a new squeeze on Russian gas supplies.
London and Frankfurt opened lower. Tokyo, Hong Kong, and South Korea fell while Shanghai gained. Oil prices rose more than $2 per barrel while the euro edged lower.
Markets were roiled by Russian energy giant Gazprom’s announcement Friday that a suspension of gas supplies through the Nord Stream 1 pipeline would be extended indefinitely. That adds to shortages in Germany and other economies.
In early trading, the FTSE 100 in London lost 1.1 percent to 7,198.73 and the DAX in Frankfurt tumbled 3.2 percent to 12,628.44., The CAC 40 in France fell 2 percent to 6,047.28….