© Archyde.com. An electronic screen shows the stock trading movement of the German DAX index at the Frankfurt Stock Exchange on Friday. Archyde.com photo.
(Archyde.com) – European shares fell on Friday, as recession fears and expectations of a big interest rate hike at the Federal Reserve’s meeting next week weighed on sentiment.
The European index fell one percent moments following the opening bell, bringing its declines this week to more than two percent.
All major European sector indices fell at 0711 GMT, with the travel and leisure sector leading losses.
The World Bank said late Thursday that the global economy might be headed for a recession, with central banks dealing sharply with high inflation, adding to the anxiety prevailing ahead of the Federal Reserve meeting.
Shares of troubled German gas-importing energy company Uniper plunged 9.4 percent to the bottom of the Stoxx 600 index, as it struggled to keep up with costs following Russia’s sudden halt to a major transport pipeline earlier this month.
(Prepared by Marwa Gharib for the Arabic Bulletin – Editing by Ahmed Maher)
