European stocks experiencing longest slump since February 2018
<img width="250" height="188" src="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-250×188.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-250×188.jpg 250w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-700×525.jpg 700w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-768×576.jpg 768w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-120×90.jpg 120w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-245×184.jpg 245w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216-500×375.jpg 500w, https://www.leaprate.com/wp-content/uploads/2023/09/FIN-LP-European-stocks-experiencing-longest-slump-since-February-2018-5127853321iStock-1383882216.jpg 1182w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">Miners and technology stocks drew the shortest end of the stick, while utilities and healthcare subindexes regained some ground. Tech stocks did not escape the trend and took some amount of strain. Experts attributed this to <a href="https://www.leaprate.com/news/markets-taking-note-of-chinas-iphone-ban/" target="_blank" rel="noopener">China’s intention</a> to broaden its ban on the use of iPhones, as government sectors and affiliates distance themselves from Apple.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">Notably, these speculations affected not only Apple’s chip supplier, STMicroelectronics, but rippled out to European microchip producers such as Infineon Technologies and Nordic Semiconductor. This downward trend also impacted luxury goods manufacturers, such as Gucci and LVMH, as inflation affects demand.</span></p>
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<p><span data-contrast="auto">European stocks started September on the back foot in the wake of a 2.7% decrease in August. Newly released data showing minimal economic growth in August following poor export activities and a gross domestic product that gained only 0.1% in the past three months, added to the sombre state. Germany’s declining industrial output, as reflected in the latest statistics, added to these woes.</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<p><span data-contrast="auto">However, it seems the situation will soon improve as numbers indicate China’s trade is on the rise. As the world’s second-largest economy, this impacts the others. The chief market analyst from CMC Markets, Michael Hewson, commented:</span><span data-ccp-props="{"201341983":0,"335559739":160,"335559740":259}"> </span></p>
<blockquote><p><span data-contrast="auto">This morning’s trade numbers for August did show an improvement on the July figures, but given how poor these were it was a low bar. While this is encouraging, demand for Chinese goods was still weak from an international, as well as domestic perspective.</span><span data-ccp-props="{"201341983":0,"335559685":720,"335559739":160,"335559740":259}"> </span></p></blockquote>
<p>The post <a rel="nofollow" href="https://www.leaprate.com/news/european-stocks-experiencing-longest-slump-since-february-2018/">European stocks experiencing longest slump since February 2018</a> appeared first on <a rel="nofollow" href="https://www.leaprate.com">LeapRate</a>.</p>
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