European markets slump as earthquake hits Spain

clock

Markets across Europe fell at the start of trading as an earthquake measuring 5.1 on the Richter scale hit Spain and commodities were heavily sold off in the US.

The earthquake damaged the Spanish town of Lorca, killing eight people and destroying buildings and cars. The French Cac 40 index dropped by 1.15% to 4,012 and the German Dax fell 0.93% to 7,422 this morning. In London, the FTSE 100 also opened lower, falling 0.6% or 36 points to 5,939 in early trading. A downbeat session in the US and Asia overnight and a heavy sell-off in energy and metals also contibuted to the slump in Europe. The S&P 500 closed down 1.1% to 1,342.08, the worst one-day drop in the index in nearly two months. Investor sentiment was adversely affected by ne...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

Why investors 'can't outrun' slow-moving demographics

Why investors 'can't outrun' slow-moving demographics

'Demographic change is a key megatrend'

Darius McDermott
clock 07 March 2024 • 5 min read
Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

Spring Budget 24: Ten key takeaways from Jeremy Hunt's speech

British ISA, Office for Budget Responsibility, tax cuts

Valeria Martinez
clock 07 March 2024 • 4 min read
Spring Budget 24: Chancellor unveils long-term UK growth plan

Spring Budget 24: Chancellor unveils long-term UK growth plan

Includes British ISA launch and further NI cut

clock 06 March 2024 • 1 min read