Massive recession fears come creeping in the European stock market, suffering a persisting slump, while oil prices decreased by 3% on Thursday.
U.K’s FTSE 100 declined by 1.1%, now on its lowest level since February, only with 7,067 by the end of Thursday trade. The German Dax also struggled; losing 0.7% and the French CAC 40 plunged by 0.3%.
Britain’s Top 100 firms Index shrank by 1%, its lowest in six months.
Analysts believe that the market performance in Europe this week was greatly influenced by the plague of economic woes in different parts of the world highlighted by Germany’s recession issues and China’s slower economic growth performance.
The U.S. economy, the world’s biggest, somehow singlehandedly lifted investors as it yielded big market figures on Thursday. The S&P 500 was up by 0.2% and the Dow Jones improved by 99 points. The U.S. retail sales were elevated by 0.7% in July.
The flashes of brilliance of the U.S. economy though, are not enough to dispatch fears of recession as the rest of the world’s economy continues to struggle.