European stocks fell on Tuesday as a strike by Norwegian oil and gas workers exacerbated worries about an energy shock in Europe and added to concerns over red-hot inflation.
"Their action is set to exacerbate the pain of rising prices and is leading to even tighter supply in the already squeezed energy market," said Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown.
"It comes at a highly fragile time geopolitically, given that the EU is facing the threat that Russia will turn off the taps abruptly, potential plunging vital industries into crisis." European Central Bank Vice President Luis de Guindos said on Monday the euro zone economy could suffer a recession if Russia cuts off gas supplies and industry had to adjust to a shortage of energy.
Concerns about Europe's dependency on Russian gas and soaring inflation have dampened investor sentiment, with tightening financial conditions also fuelling worries about a hit to economic growth and corporate profits.Data showed business growth across the Eurozone slowed further last month, with forward looking indicators suggesting the region could slip into decline this quarter as the cost of living crisis keeps consumers wary.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Europe's natural-gas crisis could deepen on Norway oil and gas strikeOil and gas workers are on strike in Norway, and it's escalating Europe's natural-gas crisis a week before a key pipeline with Russia shuts for maintenance
Baca lebih lajut »
European natural gas prices surge as Norwegian outage adds to supply woesEurope's natural gas prices jumped amid fears over Norway strikes adding to an already stressed European markets.
Baca lebih lajut »
Europe's natural-gas crisis could deepen on Norway oil and gas strikeOil and gas workers are on strike in Norway, and it's escalating Europe's natural-gas crisis a week before a key pipeline with Russia shuts for maintenance
Baca lebih lajut »
The Supreme Court Just Made It Way Easier to Pollute'Our generation must rise to this moment in history and fight — our lives depend on it.'
Baca lebih lajut »
Indian shares rise as energy, metals boostIndian shares edged higher on Tuesday, lifted by energy companies and beaten-down metal stocks, and as PTC India Financial Services received a boost from a satisfactory audit report on its business operations.
Baca lebih lajut »