European stocks plunged 3% this morning as investors sold risky assets following Russia’s attack on Ukraine, raising fears that a war in Europe could fuel higher inflation and derail economic recovery. .
THE pan-European index STOXX 600 recorded a 2.9% drop earlier, to its lowest level since May 2021.
THE German DAX index fell by 3.7% to low levels in March 2021, while it is under the greatest pressure amid fears of the country’s great dependence on energy supplies from Russia.
The jump in oil prices helped him British index FTSE 100which includes many commodity-related companies, to reduce its losses, down 2.4%.
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The European index of oil and gas companies recorded the smallest decline among industry indices, with losses of 1.2%, after oil prices jumped by about 6%, driving Brent oil above $ 100 a barrel for the first time since 2014 .
European banks with the largest exposure in Russia, including Raiffeisen Bank, UniCredit and Societe Generale, fell between 5% and 6.6%, while the broader banking index fell by 4.2%.
At the same time, bitcoin fell 7.9% to $ 34,324, its lowest level since January 24.
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