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mahatmakanejeeves

(56,874 posts)
Wed Oct 6, 2021, 07:12 AM Oct 2021

European markets tumble on inflation fears and soaring oil and gas prices

Yahoo Finance UK

European markets tumble on inflation fears and soaring oil and gas prices

LaToya Harding · Writer
Wed, October 6, 2021, 3:54 AM

European stock markets slumped on Wednesday morning amid inflation fears as US crude oil hit a seven-year high.

In London, the FTSE 100 (^FTSE) fell more than 1.2% after opening, trading below the key 7,000 points mark, while the French CAC (^FCHI) tumbled more than 1.3% and the DAX (^GDAXI) was also almost 1.3% lower in Germany.

It came as US crude reached its highest level since 2014, extending its recent rally due to tight supplies, rising demand, and soaring gas prices. European natural gas climbed to fresh highs yet again on Wednesday.

A barrel of US crude touched $79.40, while Brent crude (BZ=F) hit a three-year high of $83 per barrel.

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U.S. stock futures fell and bond yields rose, pointing to another bumpy day on Wall Street



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