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May 19, 2021, 10:51 a.m. EDT

Global selloff hits European stocks as inflation worries persist

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By Barbara Kollmeyer

European stocks tumbled on Wednesday, tracking losses in Asia and on Wall Street, as investors remain caught up in worries about inflationary pressures, with the minutes of the Federal Reserve’s latest meeting swinging into focus for later.

Those losses came as the No.1 cryptocurrency bitcoin /zigman2/quotes/31322028/realtime BTCUSD -0.68% was in the grips of a severe selloff .

After a weak day in Asia, the Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.45% fell 2.1% to 433.71, with similar losses seen for the German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.61% and French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.32% . The FTSE 100 indexes /zigman2/quotes/210598409/delayed UK:UKX -0.65% was down 1%.

U.S. stocks were deep in the red in early trading, giving up May gains as investors awaited the minutes of the Federal Open Market Committee meeting of April 27-28 to be released later on Wednesday. Markets will be on the lookout for any indications that the central bank is considering a shift in its accommodative monetary stance.

“The inflation fears, the virus fears, the fears of seeing a slower-than-thought or a delayed recovery due to the new restriction measures on the Indian variant of the coronavirus are all disquieting for the average investor,” said Ipek Ozkardeskaya, senior analyst at Swissquote, in a note to clients.

Adding to worries over global inflation, U.K. data showed consumer prices rose 1.5% on the year in April, twice the rate of inflation reported in March, according to the Office for National Statistics .

Oil prices were also under pressure, with crude /zigman2/quotes/209723049/delayed CL00 -0.19% and Brent futures dropping over 2% each. Those losses came after data from the American Petroleum Institute reportedly showed an unexpected rise in U.S. crude supplies — 620,000 barrels for the week ended May 14. Report of potential progress on Iran nuclear talks saw oil prices close lower on Wednesday .

Crude oil weakness dragged down shares of heavily weighted energy companies, with Royal Dutch Shell /zigman2/quotes/206428183/delayed UK:RDSA -1.06% /zigman2/quotes/205095589/composite RDS.A -0.81% , BP /zigman2/quotes/207305210/composite BP -1.83% /zigman2/quotes/202286639/delayed UK:BP -2.18% and Total each down 2% or more.

But virtually every sector was in the red. Technology names were deep in the red, with heavily weighted semiconductor equipment provider ASML Holding /zigman2/quotes/210293876/composite ASML +0.13% /zigman2/quotes/206208657/delayed NL:ASML -0.58% dropping nearly 5%. Shares of German business software group SAP /zigman2/quotes/207905606/composite SAP -0.43% /zigman2/quotes/202053813/delayed XE:SAP -0.35% fell 2%.

A lone outperformer, shares of John Laing  /zigman2/quotes/209839936/delayed UK:JLG +0.30% surged 11%, after New York private-equity firm KKR & Co. /zigman2/quotes/206126495/composite KKR -0.08% said it has agreed to buy the U.K.-listed infrastructure investor and manager for £2 billion ($2.84 billion) in cash.

/zigman2/quotes/31322028/realtime
US : CoinDesk
41,029.80
-280.40 -0.68%
Volume: 0.00
Aug. 1, 2021 5:19p
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/zigman2/quotes/210599654/delayed
XX : STOXX
461.74
-2.10 -0.45%
Volume: 0.00
July 30, 2021 11:03p
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
15,544.39
-96.08 -0.61%
Volume: 61,343
July 30, 2021 6:30p
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,612.76
-21.01 -0.32%
Volume: 97,436
July 30, 2021 6:05p
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,032.30
-46.12 -0.65%
Volume: 650,983
July 30, 2021 4:57p
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/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 73.81
-0.14 -0.19%
Volume: 283,342
July 30, 2021 4:59p
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/zigman2/quotes/206428183/delayed
UK : U.K.: London
£ 1,443.20
-15.40 -1.06%
Volume: 4.91M
July 30, 2021 4:35p
P/E Ratio
29.17
Dividend Yield
0.04%
Market Cap
£111.53 billion
Rev. per Employee
£1.52M
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/zigman2/quotes/205095589/composite
US : U.S.: NYSE
$ 40.62
-0.33 -0.81%
Volume: 4.90M
July 30, 2021 4:00p
P/E Ratio
28.79
Dividend Yield
3.12%
Market Cap
$155.06 billion
Rev. per Employee
$1.97M
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/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 24.18
-0.45 -1.83%
Volume: 11.43M
July 30, 2021 4:00p
P/E Ratio
N/A
Dividend Yield
5.13%
Market Cap
$81.05 billion
Rev. per Employee
$2.86M
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/zigman2/quotes/202286639/delayed
UK : U.K.: London
289.20 p
-6.45 -2.18%
Volume: 39.46M
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
5.22%
Market Cap
£58.29 billion
Rev. per Employee
£2.21M
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/zigman2/quotes/210293876/composite
US : U.S.: Nasdaq
$ 766.74
+1.03 +0.13%
Volume: 488,177
July 30, 2021 4:00p
P/E Ratio
55.96
Dividend Yield
0.36%
Market Cap
$315.60 billion
Rev. per Employee
$567,632
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/zigman2/quotes/206208657/delayed
NL : Netherlands: Euronext Amsterdam
639.00
-3.70 -0.58%
Volume: 840,869
July 30, 2021 5:38p
P/E Ratio
55.65
Dividend Yield
0.43%
Market Cap
€266.15 billion
Rev. per Employee
€497,934
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/zigman2/quotes/207905606/composite
US : U.S.: NYSE
$ 143.72
-0.62 -0.43%
Volume: 709,514
July 30, 2021 4:00p
P/E Ratio
24.30
Dividend Yield
2.00%
Market Cap
$169.03 billion
Rev. per Employee
$304,253
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/zigman2/quotes/202053813/delayed
XE : Germany: Xetra
120.84
-0.42 -0.35%
Volume: 1.97M
July 30, 2021 6:30p
P/E Ratio
24.34
Dividend Yield
1.53%
Market Cap
€142.54 billion
Rev. per Employee
€266,894
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/zigman2/quotes/209839936/delayed
UK : U.K.: London
401.00 p
+1.20 +0.30%
Volume: 783,485
July 30, 2021 4:35p
P/E Ratio
N/A
Dividend Yield
2.42%
Market Cap
£1.98 billion
Rev. per Employee
£12,821
loading...
/zigman2/quotes/206126495/composite
US : U.S.: NYSE
$ 63.76
-0.05 -0.08%
Volume: 2.67M
July 30, 2021 4:00p
P/E Ratio
7.79
Dividend Yield
0.91%
Market Cap
$37.09 billion
Rev. per Employee
$2.82M
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