Stocks clawed back some of their losses in Europe on Friday, recovering slightly from a sell-off that had knocked global markets to their worst week in six months.
The benchmark Stoxx 600, an index of shares in Europe’s largest listed companies, gained 0.8 per cent to 362.62 on Friday, putting its losses for the week at 3.6 per cent. That is heading towards the worst weekly battering for shares since early March. In Germany, the Xetra Dax index rose 1.21 per cent to 11,679.85. London’s FTSE 100 opened 0.5 per cent higher. A global rout that began on Wall Street swept through Asia and Europe, triggered by investors’ fears over rising interest rates.
President Donald Trump this week renewed his criticism of the US Federal Reserve, which he said was “an out of control” central bank. US short-term interest rates have been raised three times this year, the latest on September 26.
The US stock market, shedding 2.1 per cent at the close of play on Thursday, suffered its longest losing streak of Mr Trump’s presidency. In Asia-Pacific trading on Friday, equity markets steadied.
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