Bulletin
Investor Alert

Europe Markets Archives | Email alerts

Jan. 21, 2022, 10:23 a.m. EST

European stocks tumble, led by tech stocks, renewables after Wall Street rout

new
Watchlist Relevance
LEARN MORE

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    STOXX Europe 600 Index (SXXP)
  • X
    DAX (DAX)
  • X
    CAC 40 Index (PX1)

or Cancel Already have a watchlist? Log In

By Barbara Kollmeyer

European stocks fell sharply on Friday led by technology, which followed a late-session selloff in U.S. markets. Profit warnings in the renewables sector sent the shares of two Siemens subsidiaries tumbling.

The Stoxx Europe 600 index /zigman2/quotes/210599654/delayed XX:SXXP +1.26% fell close to 2% to 473.75, following a 0.5% gain on Thursday. The index is poised for a nearly 1% drop this week. The German DAX /zigman2/quotes/210597999/delayed DX:DAX +1.38% tumbled 2.2%, with the CAC 40 /zigman2/quotes/210597958/delayed FR:PX1 +1.17% down 2% and the FTSE 100 index /zigman2/quotes/210598409/delayed UK:UKX +1.67% 1.3% lower.

U.S. stock indexes surrendered an early rebound to turn lower in Thursday’s final hour of trading , a repeat of Wednesday’s volatile session. The worst losses were seen for the Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +1.59% , which fell 1.3%, pushing it further into correction territory.

Stocks have struggled at the start of the year amid a selloff in bonds as investors look ahead to tighter policy from Federal Reserve. The yield on the 10-year /zigman2/quotes/211347051/realtime BX:TMUBMUSD10Y -0.40% fell 5 basis points to 1.75%, while the yield on the German 10-year bund /zigman2/quotes/211347112/realtime BX:TMBMKDE-10Y +8.15% , which pushed into positive territory for the first time in three years this week, slipped 5 basis points to negative 0.07%.

A bumpy start to earnings season has also added to the gloom, with Netflix /zigman2/quotes/202353025/composite NFLX +0.58% shares dropping 20% on Friday, after the streaming giant’s subscriber number outlook fell far short of expectations . U.S. stocks /zigman2/quotes/210598065/realtime DJIA +1.98% /zigman2/quotes/210598365/realtime COMP +1.59% /zigman2/quotes/210599714/realtime SPX +1.86% opened mixed.

No Europe sectors were in the green, while financials and technology sectors led. Heavily weighted ASML Holding /zigman2/quotes/210293876/composite ASML +4.09% /zigman2/quotes/206208657/delayed NL:ASML +4.05% dropped 3%, and ams /zigman2/quotes/204183137/delayed AT:AMS +0.69% shares fell 3%, while business software group SAP /zigman2/quotes/202053813/delayed XE:SAP +1.08% was down 1.2%.

Energy names were under pressure as a risk-off mood hit oil prices /zigman2/quotes/209723049/delayed CL00 -0.49% , and BP /zigman2/quotes/202286639/delayed UK:BP +2.78% /zigman2/quotes/207305210/composite BP +2.65% and Royal Dutch Shell shares fell more than 2% each.

The renewables sector was suffering severe losses, after Siemens Gamesa Renewable Energy /zigman2/quotes/205820667/delayed ES:SGRE +6.24% late Thursday cut its guidance for the fiscal year , swinging to an operating loss in the first quarter on continued supply-chain woes. Shares slumped 13%.

The warning from its Spanish subsidiary prompted Siemens Energy /zigman2/quotes/221435471/delayed XE:ENR -0.74% to lower its targets for fiscal 2022 , and shares tumbled 16%. Those of rival Vestas Wind Systems /zigman2/quotes/205019303/delayed DK:VWS +4.72% dropped 6%.

Elsewhere, shares of Airbus /zigman2/quotes/208224336/delayed FR:AIR +0.24% dropped 1.5%, after the multinational aerospace corporation canceled a plane order from state-owned carrier Qatar as the two companies have been in dispute for months over surface degradation on A350 jets.

/zigman2/quotes/210599654/delayed
XX : STOXX
436.54
+5.44 +1.26%
Volume: 0.00
May 23, 2022 11:03p
loading...
/zigman2/quotes/210597999/delayed
DAX
DX : Xetra Indices
14,175.40
+193.49 +1.38%
Volume: 60,577
May 23, 2022 6:30p
loading...
/zigman2/quotes/210597958/delayed
FR : France: Euronext Paris
6,358.74
+73.50 +1.17%
Volume: 82,641
May 23, 2022 6:05p
loading...
/zigman2/quotes/210598409/delayed
UK : FTSE UK
7,513.44
+123.46 +1.67%
Volume: 647,826
May 23, 2022 4:59p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
11,535.27
+180.66 +1.59%
Volume: 3.91M
May 23, 2022 5:16p
loading...
/zigman2/quotes/211347051/realtime
add Add to watchlist BX:TMUBMUSD10Y
BX : Tullett Prebon
2.85
-0.01 -0.40%
Volume: 0.00
May 23, 2022 10:47p
loading...
/zigman2/quotes/211347112/realtime
add Add to watchlist BX:TMBMKDE-10Y
BX : Tullett Prebon
1.02
+0.08 +8.15%
Volume: 0.00
May 23, 2022 6:01p
loading...
/zigman2/quotes/202353025/composite
US : U.S.: Nasdaq
$ 187.44
+1.09 +0.58%
Volume: 9.60M
May 23, 2022 4:00p
P/E Ratio
17.01
Dividend Yield
N/A
Market Cap
$82.79 billion
Rev. per Employee
$2.69M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,880.24
+618.34 +1.98%
Volume: 405.83M
May 23, 2022 5:43p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
11,535.27
+180.66 +1.59%
Volume: 3.91M
May 23, 2022 5:16p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,973.75
+72.39 +1.86%
Volume: 2.39B
May 23, 2022 5:43p
loading...
/zigman2/quotes/210293876/composite
US : U.S.: Nasdaq
$ 554.61
+21.77 +4.09%
Volume: 976,952
May 23, 2022 4:00p
P/E Ratio
36.96
Dividend Yield
0.92%
Market Cap
$213.30 billion
Rev. per Employee
$692,828
loading...
/zigman2/quotes/206208657/delayed
NL : Netherlands: Euronext Amsterdam
521.00
+20.30 +4.05%
Volume: 799,694
May 23, 2022 5:39p
P/E Ratio
40.42
Dividend Yield
1.06%
Market Cap
€202.03 billion
Rev. per Employee
€595,476
loading...
/zigman2/quotes/204183137/delayed
AT : Austria: Vienna
10.88
+0.08 +0.69%
Volume: 244.00
May 23, 2022 5:32p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
€2.81 billion
Rev. per Employee
€204,172
loading...
/zigman2/quotes/202053813/delayed
XE : Germany: Xetra
93.01
+0.99 +1.08%
Volume: 2.01M
May 23, 2022 6:30p
P/E Ratio
22.11
Dividend Yield
2.10%
Market Cap
€108.55 billion
Rev. per Employee
€265,996
loading...
/zigman2/quotes/209723049/delayed
US : U.S.: Nymex
$ 109.75
-0.54 -0.49%
Volume: 13,238
May 23, 2022 10:37p
loading...
/zigman2/quotes/202286639/delayed
UK : U.K.: London
428.80 p
+11.60 +2.78%
Volume: 35.85M
May 23, 2022 4:35p
P/E Ratio
N/A
Dividend Yield
4.05%
Market Cap
£80.52 billion
Rev. per Employee
£1.92M
loading...
/zigman2/quotes/207305210/composite
US : U.S.: NYSE
$ 32.11
+0.83 +2.65%
Volume: 12.62M
May 23, 2022 4:00p
P/E Ratio
N/A
Dividend Yield
4.02%
Market Cap
$100.39 billion
Rev. per Employee
$2.62M
loading...
/zigman2/quotes/205820667/delayed
ES : Spain: Madrid
17.79
+1.05 +6.24%
Volume: 13.07M
May 23, 2022 5:38p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
€11.39 billion
Rev. per Employee
€365,630
loading...
/zigman2/quotes/221435471/delayed
XE : Germany: Xetra
16.81
-0.13 -0.74%
Volume: 3.58M
May 23, 2022 6:30p
P/E Ratio
N/A
Dividend Yield
0.59%
Market Cap
€12.10 billion
Rev. per Employee
€304,304
loading...
/zigman2/quotes/205019303/delayed
DK : Denmark: OMX
kr. 164.08
+7.40 +4.72%
Volume: 3.61M
May 23, 2022 4:59p
P/E Ratio
N/A
Dividend Yield
0.23%
Market Cap
kr.158.08 billion
Rev. per Employee
kr.4.07M
loading...
/zigman2/quotes/208224336/delayed
FR : France: Euronext Paris
107.18
+0.26 +0.24%
Volume: 1.39M
May 23, 2022 5:35p
P/E Ratio
16.62
Dividend Yield
1.40%
Market Cap
€84.02 billion
Rev. per Employee
€424,436
loading...

This Story has 0 Comments
Be the first to comment
More News In
Markets

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.