Europe's stock markets followed Wall Street sharply downward on Friday after a report showing a surprise drop in US payrolls fueled fears that the world's biggest economy is flagging.
The London FTSE 100 index of leading shares lost 1.93 percent to 6,191.20 points. In Frankfurt the DAX 30 fell 2.43 percent to 7,436.63 points and the Paris CAC 40 closed 2.63 percent lower at 5,430.10 points.
The DJ Euro STOXX 50 index lost 2.20 percent to 4,162.42.
The euro stood at 1.3769 dollars in late European trade.
Wall Street shares sank after news emerged that US employers shed 4,000 jobs last month -- the first drop in payrolls in four years. That reignited concerns over the strength of the US economy.
"The depressed housing sector, turbulent financial markets and now a sharp weakening of the labor market is very bad news for the US consumer sector," CIBC economist Audrey Childe-Freeman said.
In London, financials and miners took the heaviest losses. Vedanta Resources fell 4.35 pecent to £18.27, Anglo American was down 4.87 percent at £27.76 and BHP Billiton dropped 2.58 percent at £14.35.
Barclays gave up 4.19 percent to £5.825.
In Paris, banks were also hit. Societe Generale was down 3.91 percent at 113,90 euros after rumors of an impending profit-warning from the lender.
BNP Paribas also closed on heavy losses, down 3.41 percent at 73.12 euros, Dexia fell 2.84 percent to 20.53 euros, and Credit Agricole shed 2.97 percent to 26.45 euros.
Deutsche Postbank retreated 3.61 percent to 50.98 euros.
Elsewhere in Europe, the Swiss SMI dropped 1.74 percent to 8,676.13 points while Milan's SP/MIB plunged 2.39 percent to 38.494 points.
Madrid's IBEX-35 closed 2.29 percent lower at 13,873.40, in Brussels the BEL-20 moved down 2.38 percent to close at 4,227.47 points.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), the world’s largest contract chipmaker, yesterday said its materials management head, Vanessa Lee (李文如), had tendered her resignation for personal reasons. The personnel adjustment takes effect tomorrow, TSMC said in a statement. The latest development came one month after Lee reportedly took leave from the middle of last month. Cliff Hou (侯永清), senior vice president and deputy cochief operating officer, is to concurrently take on the role of head of the materials management division, which has been under his supervision, TSMC said. Lee, who joined TSMC in 2022, was appointed senior director of materials management and
Nvidia Corp CEO Jensen Huang (黃仁勳) on Thursday met with US President Donald Trump at the White House, days before a planned trip to China by the head of the world’s most valuable chipmaker, people familiar with the matter said. Details of what the two men discussed were not immediately available, and the people familiar with the meeting declined to elaborate on the agenda. Spokespeople for the White House had no immediate comment. Nvidia declined to comment. Nvidia’s CEO has been vocal about the need for US companies to access the world’s largest semiconductor market and is a frequent visitor to China.
Hypermarket chain Carrefour Taiwan and upscale supermarket chain Mia C’bon on Saturday announced the suspension of their partnership with Jkopay Co (街口支付), one of Taiwan’s largest digital payment providers, amid a lawsuit involving its parent company. Carrefour and Mia C’bon said they would notify customers once Jkopay services are reinstated. The two retailers joined an array of other firms in suspending their partnerships with Jkopay. On Friday night, popular beverage chain TP Tea (茶湯會) also suspended its use of the platform, urging customers to opt for alternative payment methods. Another drinks brand, Guiji (龜記), on Friday said that it is up to individual
READY TO BUY: Shortly after Nvidia announced the approval, Chinese firms scrambled to order the H20 GPUs, which the company must send to the US government for approval Nvidia Corp chief executive officer Jensen Huang (黃仁勳) late on Monday said the technology giant has won approval from US President Donald Trump’s administration to sell its advanced H20 graphics processing units (GPUs) used to develop artificial intelligence (AI) to China. The news came in a company blog post late on Monday and Huang also spoke about the coup on China’s state-run China Global Television Network in remarks shown on X. “The US government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon,” the post said. “Today, I’m announcing that the US government has approved for us
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