Zhitong Finance APP learned that European stock markets continued to fall on Friday after falling to their lowest point since January 2021 yesterday as investors worried that the global central bank continued to raise interest rates and would cause the economy to fall into recession and flee from risky assets. As of press time, the European Stoke 600 index fell 0.34% to 398.4 points. Among them, the energy and banking sectors led the decline, while the healthcare sector performed better.
(Photo source: Yingwei Talent)
Worries about worsening economic conditions, energy crisis and more hawkish central banks are hitting investors' risk appetite. The European Stoke 600 index has fallen 19% since its high in January, and has fallen for three consecutive quarters, and is expected to be the longest decline since 2009.
According to media surveys, investors have given up expectations of a year-end rise in European stocks, and forecasts for the European Stock 600 index have fallen by about 5% in the past month. Strategists now expect the index to close at 427 points by the end of the year, less than 5% higher than Wednesday's closing price.
Ricardo Gil, head of asset allocation at Trea Asset Management in Madrid, said: "We are facing a very complex situation, and the macro situation will continue to deteriorate, which is a major concern, as inflation may peak soon. Deteriorating corporate earnings are not priced, and we expect corporate earnings to deteriorate unexpectedly in the quarter, and they may issue more profit warnings."
According to EPFR Global, European equity funds have experienced capital outflows for 32 consecutive weeks.
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