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<Europe>European Bourses Initially Subside; Banks Squeezed; DJIA Futures Slip 600Pts+
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European bourses declined in early session since investors worried about prolonged warfare between the US and Israel against Iran and soaring oil prices. Meanwhile, US stock futures slipped over 600 points. The pan-European STOXX 600 fell by 12.46 points or 2% to 611.17. The UK FTSE 100 dropped by 171 points or 1.6% to 10,608. The French CAC 40 sank by 147 points or 1.8% to 8,244. The German DAX lost by 570 points or 2.3% to 24,067. The Spanish IBEX 35 tumbled by 433 points or 2.4% to 17,441. The Italian FTSE MIB plummeted by 1,232 points or 2.7% to 45,047. Financials slumped, with Societe Generale down 6%, Banco Santander, Credit Agricole, and Zurich Insurance down over 5%, while Barclays, UBS, Deutsche Bank, Commerzbank, and UniCredit each sagged over 4%. Additionally, airlines Air France-KLM and British Airways parent company IAG each plunged 5%, and chip stock STMicroelectronics also slid over 5%. As to US stock futures, DJIA futures stumbled by 676 points or 1.4% to 48,269. S&P 500 futures faded by 92 points or 1.3% to 6,796. Nasdaq 100 futures skydived by 407 points or 1.6% to 24,618. AASTOCKS Financial News |
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