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European shares fall on losses in tech, travel companies

Economy Dec 02, 2021 08:45
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© Reuters. The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 1, 2021. REUTERS/Staff

(Reuters) - European shares fell on Thursday, tracking a slide in U.S. equities overnight due to uncertainty around the Omicron coronavirus variant and the chances of quicker interest rate hikes than expected.

The continent-wide STOXX 600 fell 1.1% as of 0819 GMT after posting its best session in almost six months on Wednesday. Tech stocks were the biggest decliners on the index, followed by a 2% drop in travel stocks.

Wall Street was roiled by a late selloff after the confirmation of first U.S. case of Omicron infection and Federal Reserve Chair Jerome Powell's comment on the possibility that inflation may not recede in the second half of next year.

Chipmakers Infineon Technologies, ASML and AMS dropped between 1.8% and 4.1% on a report that Apple (NASDAQ:AAPL) told its parts suppliers that demand for iPhone 13 has slowed.

Luxury goods firms Hermes fell 2.4% despite its inclusion in the blue-chip Euro STOXX 50 index.

European shares fall on losses in tech, travel companies
 

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