Meta weighs on US shares, European stocks rise after rout

Meta weighs on US shares, European stocks rise after rout

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Wall Street shares finished broadly lower on Monday, while European stocks rose following five straight weeks of declines and European bond yields soared on speculation of monetary tightening.

Markets are on alert for rate rises in both the euro zone and the United States after the ECB last week was considered to have adopted a more hawkish tone. The United States reported stronger-than-expected jobs and earnings data.

European Central Bank President Christine Lagarde on Monday calmed some of those jitters, saying there were no signs that measurable monetary policy tightening would be required.

Major Wall Street stock indexes were mixed throughout the session on Monday before ending down as markets digested mixed quarterly results from megacaps Amazon.com Inc and Facebook owner Meta Platforms.

The Dow Jones Industrial Average remained unchanged to end at 35,091.13 points, while the S&P 500 lost 0.37% to 4,483.87. The Nasdaq Composite dropped 0.58% to 14,015.67.

Meta shares fell more than 5%, extending losses for the third session after its record plunge last week. Peloton jumped over 20% on media reports of interest from potential buyers including Amazon.

”The market’s inability to rally on Friday’s strong payroll data, and generally poor stock reactions to Q4 results despite healthy