Q4 off to rocky start as Europe’s STOXX 600 falls 1.3%
SPY•Europe’s STOXX 600 fell 1.3% to its lowest level since mid-June as bond yields and oil prices rose. More than 90% of index stocks declined, with banks the biggest laggard.
1. Broad market declines
The pan-European benchmark was down more than 1.3% at its lowest since mid-June, after falling more than 1% last quarter. More than 90% of its stocks traded lower, and all sectors were in the red.
2. Banks lag, tech edges up
Banks were the biggest laggard. Tech hardware shares including Inficon, Infineon, Comet and VAT Group traded slightly higher after Micron reported earnings on Wednesday.
