ISTANBUL
As inflationary concerns persist around the globe, European stock exchanges were lower at the opening bell on the last transaction day of the week.
The STOXX Europe 600, which includes around 90% of the market capitalization of the European market in 17 countries, was down 1% to 410.6 points.
The UK’s FTSE 100 index decreased 0.28% to 7,262 points and Germany’s DAX 30 slipped 1.29% to 12,789.
France’s CAC 40 fell 0.98% to open the day at 6,098 points, while Spain’s IBEX 35 declined 0.91% to 8,012 points.
Recession fears have mounted after the US reported a higher-than-expected annual inflation rate of 8.3% inflation in August.
Inflation rates may have eased a bit across the Atlantic, but at a much slower pace than desired.
Latest inflation data for the eurozone and EU will be released later on Friday.
The US Federal Reserve is expected to raise its policy interest rate by 75-100 basis points next week, further denting the risk appetite worldwide.
