European stocks drop on inflation worries
European stock markets declined at the beginning of October, influenced by fears of energy-related inflation and setbacks in peace efforts in the Middle East. The Stoxx 600 index fell by 0.6%, while the German DAX and French CAC 40 indices also declined accordingly. The UK’s FTSE 100 experienced a drop of 1.1%. This downturn comes amid rising oil prices due to failed negotiations between the United States and Iran and increasing fuel costs in the Eurozone, putting pressure on the European Central Bank to continue its restrictive monetary policy. Additionally, weaker U.S. economic data contributed to the lack of a rally in European stocks, as investors remained cautious and awaited more data and corporate results entering the final quarter of the year.
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