European stocks continued to decline for the second day on the 14th (local time) as concerns regarding prolonged inflation spread due to the higher-than-expected US price index.
The London Stock Exchange’s FTSE 100 Index fell 1.47% to 7,227.40, and the Paris Paris Stock Exchange’s CAC 40 Index fell 0.37% to close at 6,222.41.
Germany’s Frankfurt Stock Exchange’s DAX30 index also fell.
The closing price was 13,035.27, down 1.17% from the previous trading day.
The pan-European Euro Stoxx 50 index fell 0.52% to close at 3,567.65.
The decline in European stock prices is interpreted to be related to the fact that the US price index exceeded market expectations.
There was an expectation that inflation would be dampened by the drop in international oil prices, but when the unexpected number came out, investors’ sentiments were frozen amid concerns regarding prolonged inflation.
According to the U.S. Department of Labor on the 13th (local time), the U.S. consumer price index (CPI) for August rose by 8.3% from the same month of the previous year and 0.1% from the previous month, beating the market expectations of 8.0% and -0.1%.
European stocks, which had been on the uptrend on the day due to the influence of the US price index, turned downward and closed with a drop of around 1%.
/yunhap news
