European Stocks Hitting a Low of Almost a Month

European stocks reached their lowest level in nearly a month after the worst-selling wave in Wall Street since October due to concerns about rising valuations, while investors grew concerned about an increase in infections with a new, more contagious strain of the Coronavirus.

The European STOXX 600 index fell 1%, turning into a decline since the beginning of the year, while the main indices in the region, such as the German DAX and the French CAC 40, slid into a deeper decline, and the British FTSE 100 index stuck to the slight gains it made this year.

Investors turned a blind eye to strong earnings from Apple and Facebook overnight, as well as the Federal Reserve pledging (the US Central Bank) to stick to an accommodative monetary policy, as sentiment was negatively affected by the slow distribution of Covid-19 vaccines and more restrictions in Europe.

Mining, technology, and oil and gas companies topped the list of losers among the sectors, dropping between 1.5% and 1.6%.