Europe Stocks Divided After The Collapse Of Asia Tech Sector
Tech Digest– After increases in most Asian markets on Tuesday despite losses in technology equities, notably Japan’s SoftBank, European averages were divided.
Concerns about inflation and what central banks could do to stop that trend are being added to these anxieties. Higher interest rates typically have a negative impact on stock prices. Other concerns about the markets include the conflict in Ukraine and the strikes on Europe’s largest nuclear facility.
Russia-occupied southeast Ukraine is home to a nuclear power plant, and Moscow and Kyiv have both accused the other of bombarding that facility, raising concerns around the world. Six nuclear reactors make up the Zaporizhzhia nuclear power station, and the fighting in the area has increased the risk of an accident.
Germany’s DAX dipped 0.4 percent to 13,632.20, while France’s CAC 40 increased by less than 2 points to 6,526.13. The FTSE 100 in Britain increased by less than 0.1 percent to 7,489.68. The Dow Jones Industrial Average and S&P 500 futures both increased by 0.2 percent.
Japan’s benchmark Nikkei 225 index fell by about 0.9 percent to close at 27,999.96 during Asian trading. The value of Japanese technology investor SoftBank Group Corp. fell by more than 7%. It released a record-breaking $23 billion quarterly loss on Monday. The Chinese e-commerce behemoth Alibaba and other technology-related difficulties have caused a global nosedive, which has affected the company’s substantial investment portfolio.