– European stock markets dropped at the start of trading Monday following heavy overnight losses in Asia on the prospect of more big US interest rate hikes.
London’s benchmark FTSE 100 index fell 0.4 percent to 6,966.60 points.
In the eurozone, Frankfurt’s DAX index lost 0.5 percent to 12,216.19 points and the Paris CAC 40 shed 0.6 percent to 5,832.99.
Global stocks had already slumped Friday on data showing only a timid slowdown in the US jobs market, setting the stage for further aggressive interest rate hikes from the Federal Reserve.
Markets are increasingly fearful that big increases in the cost of borrowing worldwide, as other central banks also lift rates to try and cool sky-high inflation, will result in a global recession.
