European Shares Fall in a Sell-Off

European shares fell on Friday, heading for a sell-off in global markets, after strong US inflation data fueled bets for a bigger US interest rate hike, although comments hinting at monetary easing from the European Central Bank head limited losses.

The pan-European Stoxx 600 index fell 0.5 percent after data revealed that US consumer prices posted their biggest increase in 40 years in January.

Almost all sectors and stock indices in the region fell, but the interest-rate-sensitive technology sector was the most declining, down 1.2 percent.

Volvo carmaker shares fell 4.7 percent after posting profits less than analysts’ expectations due to persistent global supply shortages.

Shares of French electricity company EDF fell 3 percent after the company cut its estimate of its nuclear energy production in France.

Shares of French television group TF1 rose 1.7 percent after it announced a 14.2 percent increase in advertising revenue, indicating a strong recovery in advertising spending.