European and Asian stocks sparked by China’s interest rate cut as Wall Street tumbles – The National
- Date: 21-May-2022
- Source: The National
- Sector:Financial Markets
- Country:Middle East
European and Asian stocks sparked by China’s interest rate cut as Wall Street tumbles – The National
Asian and European stocks rebounded on Friday on China's interest rate cut, but US equities gyrated amid fears that sky-high inflation will spark a recession.
London's FTSE 100 closed up 1.2 per cent, Frankfurt's DAX rose 0.7 per cent and Paris' CAC 40 inched up 0.2 per cent. In Asia, Hong Kong's Hang Seng rose 3 per cent, the Shanghai Composite gained 1.6 per cent and Tokyo's Nikkei 225 increased 1.3 per cent.
Wall Street ended mixed on Friday after a volatile session that saw Tesla slump and other growth stocks also lose ground.