- Gaza cultural heritage brought to light in Geneva
- 'Bullet for democracy': Trump returns to site of rally shooting
- Italy targets climate activists in 'anti-Gandhi' demo clampdown
- South Korean cult-horror series 'Hellbound' returns at BIFF
- Nepalis fear more floods as climate change melts glaciers
- Honduras arrests environmentalist's alleged murderer
- Padres pitcher Musgrove needs elbow surgery
- Supreme Court lets stand rules to curb mercury, methane emissions
- Boston beat Denver in NBA exhibition season opener, but Jokic says omens are good
- Chagos diaspora angry at lack of input on islands' fate
- Biden says 'not confident' of peaceful US election
- US trade chief defends tariff hikes when paired with investment
- Lukaku stars as Napoli beat Como to hold Serie A top spot
- Ohtani set for MLB playoff debut as Dodgers face Padres
- Pogba's drug ban cut to 18 months from four years
- Devine leads New Zealand to big win over India in Women's T20 World Cup
- Bosnia floods kill 16 people
- EU court blocks French ban on vegetable 'steak' labelling
- Prosecutors seek dismissal of rape charges against French rugby players
- Meta AI turns pictures into videos with sound
- Bolivia's Morales says claims he raped a minor are a 'lie'
- MLB Reds hire two-time champion Francona as manager
- Daniel Maldini receives first Italy call-up for Nations League
- US dockworkers return to ports after three-day strike
- Ancelotti points finger at Madrid's 'lack of intensity'
- Haiti reeling after 70 killed in gang attack
- Five Czech kids in hospital over TikTok 'piercing challenge'
- What happens next in Iran-Israel conflict?
- Country star Garth Brooks denies rape accusations
- Stubbs hits maiden century as South Africa make 343-4 against Ireland
- DR Congo to begin mpox vaccination campaign Saturday in east
- Odegaard injury has forced Arsenal to be 'different', says Arteta
- Ratcliffe refuses to guarantee Ten Hag's Man Utd future
- Meta must limit data use for targeted ads: EU court
- Mauritius to hold legislative election on November 10
- Britain qualify for America's Cup final after 60-year wait
- IMF asks Sri Lanka to protect hard-won gains
- Morata returns to Spain Nations League squad after injury
- Irish regulator to probe Ryanair use of facial recognition
- Public allowed to see video evidence in France mass rape trial
- US hiring soars past expectations in sign of resilient market
- Under-fire Ten Hag 'together' with Man Utd hierarchy
- Guardiola talks of Man City love affair as financial hearing rumbles on
- De Bruyne out of Belgium Nations League squad
- Japanese trainer Yahagi hopes Shin Emperor achieves 50-year-old Arc dream
- UK's Starmer hails 'landmark' carbon capture funding
- As EU targets Chinese cars, European rivals sputter
- Bosnia floods kill 14 people
- Tennis world number one Swiatek splits with coach Wiktorowski
- Liverpool share responsibility for Nunez goal drought, says Slot
European stocks slump at end of volatile week for markets
European stock markets tumbled Friday nearing the end of a highly volatile trading week worldwide as investors assessed the economy's recovery outlook faced with soaring inflation, rising interest rates and mixed earnings.
The week's trading has been dominated by Federal Reserve policy as the US central bank seeks to battle decades-high inflation by embarking on a series of interest rate hikes that could derail strong growth rebounds following pandemic lockdowns.
By contrast, the European Central Bank is sitting tight, putting pressure on the euro which Friday struck a 19-month low versus the dollar.
Rising tensions between Russia and the West over the Ukraine crisis are adding to the fractious mood on trading floors, where a selling frenzy this month wiped around $7 trillion off valuations around the world.
"Downbeat mood rounds up a volatile week for markets," said Victoria Scholar, head of investment at Interactive Investor.
"After an indiscriminate tech rout in recent weeks amid concerns about rising rates from the Fed, earnings season is helping to separate the wheat from the chaff with companies like Apple and Microsoft... managing to buck the broader weakness."
Apple on Thursday reported record quarterly revenue of $124 billion despite a global chip pinch and shifting impacts of the pandemic that have weighed down other big tech players.
Traders were also digesting growth data out of Europe's biggest economies.
The German economy ended 2021 on a downward note, shrinking by 0.7 percent in the fourth quarter as bottlenecks and coronavirus restrictions took their toll, official figures showed.
Last year Germany's economy grew by 2.8 percent, Friday's data added, far slower than its neighbour France, which expanded seven percent in 2021.
While stock markets have rallied for the best part of two years to record or multi-year highs, analysts said a hefty pullback is to be expected, owing to profit-taking and the removal of massive pandemic-era stimulus by central banks and governments.
- Oil gains -
Crude oil prices remained well supported after a strong trading week, aided by the Ukraine-Russia crisis.
"Russia's supply of natural gas to Western Europe could further spark volatility across financial markets, and as we turn the corner on the pandemic we now see a possible conflict as one of the biggest threats to markets in 2022," predicted Federated Hermes analyst Lewis Grant.
On Wall Street, all three main indices ended Thursday in the red, with the Nasdaq leading the way again as tech firms are more susceptible to higher borrowing costs.
- Key figures around 1145 GMT -
London - FTSE 100: DOWN 1.1 percent at 7,467.90 points
Frankfurt - DAX: DOWN 1.9 percent at 15,225.52
Paris - CAC 40: DOWN 1.6 percent at 6,909.83
EURO STOXX 50: DOWN 1.9 percent at 4,105.33
Tokyo - Nikkei 225: UP 2.1 percent at 26,717.34 (close)
Hong Kong - Hang Seng Index: DOWN 1.1 percent at 23,550.08 (close)
Shanghai - Composite: DOWN 1.0 percent at 3,361.44 (close)
New York - Dow: FLAT at 34,160.78 (close)
Euro/dollar: DOWN at $1.1132 from $1.1147 late Thursday
Pound/dollar: UP at $1.3387 from $1.3381
Euro/pound: DOWN at 83.15 pence from 83.27 pence
Dollar/yen: UP at 115.59 yen from 115.36 yen
Brent North Sea crude: UP 0.6 percent at $88.70 per barrel
West Texas Intermediate: UP 0.7 percent at $87.22 per barrel
F.Ferraz--PC