European stock markets followed after Tokyo, with (-5.8%) recording the worst session since Covid, and Wall Street. Intel (NASDAQ: ) accounts worried the technology sector, and fears of a possible recession resurfaced in the US
Negative start for the European stock market in the last session of the week. Milan is in the black with a loss of 1.6%, while Frankfurt (-1%) and Paris (-0.3%) are also doing badly.
LOWER INTEL
The fear of a possible recession is felt in the American markets and, above all, in the one Federal Reserve which may be too late with cuts in September. In yesterday’s session, ISM data showed a contracting manufacturing sector. The three major indexes lost more than 1%. The worst sufferer was (-2.3%), despite Meta’s +4.8%. In the tech sector, fears are rising after a disappointing quarterly of Intelwith the company that after suspending the dividend and announcing the layoff of 15% of employees lost 19% in pre market trading after already losing 5.1% in Thursday’s session…
** This article was written by FinanceLounge