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Jan. 24, 2022, 11:40 a.m. EST

European stocks smashed in worst trading day in 19 months

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By Steve Goldstein

European stocks on Monday were engulfed in red, suffering their worst single day of trade in three months.

The Stoxx Europe 600 /zigman2/quotes/210599654/delayed XX:SXXP -0.08% dropped 3.8% to 456,40, with all of the major sector indexes losing ground. That was the worst single-day drop since June 11, 2020.

Double-digit declines were seen for companies including French care homes company Orpea /zigman2/quotes/204431094/delayed FR:ORP -5.31% , Swiss e-pharmacy provider Zur Rose /zigman2/quotes/205626361/delayed CH:ROSE -1.51% and Irish construction materials company Kingspan /zigman2/quotes/200640650/delayed IE:KRX -1.64% .

The German DAX /zigman2/quotes/210597999/delayed DX:DAX -0.33% and French CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 -0.27% each declined nearly 4%, and the U.K. FTSE 100 /zigman2/quotes/210598409/delayed UK:UKX +0.09% fell by nearly 3%.

“The poor start to the week comes hot on the heels of a rather bearish week for risk assets. Investors have not been impressed by the results of U.S. bank earnings in the fourth quarter, while on a more macro level, concerns about policy tightening from the Fed and high levels of inflation around the world have also weighed heavily on risk appetite,” said Renne Friedman, senior economist at Exante.

Despite a smaller weighting toward technology and other growth sectors, European stocks haven’t been much of a refuge, sliding over 6% this year as the U.S. S&P 500 /zigman2/quotes/210599714/realtime SPX +2.39% has dropped 10%.

Russian stocks /zigman2/quotes/210597950/delayed RU:RTS -5.83% collapsed on Monday after the State Department ordered families of diplomats to leave Ukraine, a sign of a possible war breaking out. The U.S. and European allies have said they would retaliate for an invasion with sanctions.

There were a handful of gainers. Accell /zigman2/quotes/202567020/delayed NL:ACCEL -0.64% shares surged 25% to €57.50 after a KKR-led consortium agreed to pay €58 per share, or €1.6 billion in cash for the maker of Raleigh bicycles.

Vodafone /zigman2/quotes/202484985/delayed UK:VOD +3.11% /zigman2/quotes/202862751/composite VOD -0.48% shares rallied 4% on speculation of tie-ups with Three in the U.K. and Iliad in Italy.

Unilever /zigman2/quotes/205449809/delayed UK:ULVR -1.61% /zigman2/quotes/204685760/composite UL +2.17% shares rallied 7% after The Wall Street Journal reported that activist investor Nelson Peltz took a stake after an attempt to buy GlaxoSmithKline’s /zigman2/quotes/200381158/delayed UK:GSK +0.32% consumer health unit quickly fizzled.

/zigman2/quotes/210599654/delayed
XX : STOXX
433.15
-0.33 -0.08%
Volume: 0.00
May 16, 2022 10:26a
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/zigman2/quotes/204431094/delayed
FR : France: Euronext Paris
32.96
-1.85 -5.31%
Volume: 194,005
May 16, 2022 10:26a
P/E Ratio
11.90
Dividend Yield
0.00%
Market Cap
€2.25 billion
Rev. per Employee
€62,279
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/zigman2/quotes/205626361/delayed
CH : Switzerland: SWX
CHF 110.90
-1.70 -1.51%
Volume: 28,577
May 16, 2022 10:25a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
CHF1.21 billion
Rev. per Employee
CHF810,184
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/zigman2/quotes/200640650/delayed
IE : Ireland: Dublin
76.72
-1.28 -1.64%
Volume: 13,556
May 16, 2022 9:25a
P/E Ratio
25.33
Dividend Yield
0.60%
Market Cap
€14.17 billion
Rev. per Employee
€341,947
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/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
13,981.29
-46.64 -0.33%
Volume: 12,266
May 16, 2022 10:26a
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/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,345.37
-17.31 -0.27%
Volume: 10,524
May 16, 2022 10:26a
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/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,425.05
+6.90 +0.09%
Volume: 84,987
May 16, 2022 9:26a
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/zigman2/quotes/210599714/realtime
US : S&P US
4,023.89
+93.81 +2.39%
Volume: 2.54B
May 13, 2022 4:57p
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/zigman2/quotes/210597950/delayed
RU : Moscow Exchange
1,017.01
-62.98 -5.83%
Volume: 0.00
April 11, 2022 6:07p
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/zigman2/quotes/202567020/delayed
NL : Netherlands: Euronext Amsterdam
54.25
-0.35 -0.64%
Volume: 289.00
May 16, 2022 10:05a
P/E Ratio
20.85
Dividend Yield
0.00%
Market Cap
€1.47 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/202484985/delayed
UK : U.K.: London
121.48 p
+3.66 +3.11%
Volume: 15.96M
May 16, 2022 9:26a
P/E Ratio
N/A
Dividend Yield
6.25%
Market Cap
£33.21 billion
Rev. per Employee
£373,308
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/zigman2/quotes/202862751/composite
US : U.S.: Nasdaq
$ 14.63
-0.07 -0.48%
Volume: 5.29M
May 13, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
6.92%
Market Cap
$40.59 billion
Rev. per Employee
$510,677
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/zigman2/quotes/205449809/delayed
UK : U.K.: London
3,686.50 p
-60.50 -1.61%
Volume: 479,576
May 16, 2022 9:26a
P/E Ratio
18.49
Dividend Yield
3.93%
Market Cap
£95.51 billion
Rev. per Employee
£304,541
loading...
/zigman2/quotes/204685760/composite
US : U.S.: NYSE
$ 46.17
+0.98 +2.17%
Volume: 3.32M
May 13, 2022 4:00p
P/E Ratio
16.83
Dividend Yield
3.96%
Market Cap
$116.71 billion
Rev. per Employee
$418,837
loading...
/zigman2/quotes/200381158/delayed
UK : U.K.: London
1,761.00 p
+5.60 +0.32%
Volume: 375,675
May 16, 2022 9:26a
P/E Ratio
17.45
Dividend Yield
2.95%
Market Cap
£88.83 billion
Rev. per Employee
£404,857
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