European stocks retreat to fresh lows

The German DAX lost 151 points, and the FTSE lost 60 points, as European stocks generally ended the day lower. European stocks fell as a result of rising rates and economic worries, while exporters with considerable exposure to Chinese markets also suffered.

Equities were also influenced by rising commodity prices and bond yields from the ECB. The increase in inventories also led to a fall in mining stocks. The Hang Seng and Shanghai Composite indices both ended the day in the negative, while the FTSE and CAC40 both lost 0.85%.

The UK’s major equity index, the FTSE, is continuing to decline from recent highs at the £7,750.00 mark, raising the possibility of a bearish turn in the daily candlesticks. Swing highs are reaching their maximum value, while swing lows are colliding with a floor price of about £7,250.00.