European stocks fall as investors worry about economic growth

European shares fell for a fourth consecutive session Monday, October 10, as investors worried about the impact of rising tension between Ukraine and Russia and central banks’ determination to curb inflation on economic growth and corporate profits.

The pan-European Stoxx 600 index was down 0.6% by 0708 GMT, its lowest since Oct. 3.

The index fell more than 3% in four sessions amid concerns that the major global central banks, especially the US Federal Reserve, will continue to raise interest rates aggressively to tame inflation.
Those concerns were exacerbated after Friday’s data showed resilience in the US jobs market in September, denting hopes that the US Federal Reserve will reverse its approach soon.

All sector indices for the Stoxx 600 fell in early trading, led by technology shares, which fell 1.4%.

Shares of European chip makers, including Infineon and PE Semiconductor, fell between 1 and 2% after Washington deployed a comprehensive set of export controls, including a measure to deprive China of some chips made anywhere in the world.
with American equipment.

However, Renault SA shares jumped 4.4% after Reuters reported that Nissan Motor Co., Ltd. is pressing its French partner to reduce its stake in the Japanese auto giant as much as possible and potentially consider raising funds to buy back shares.