Economy Local November 14, 2024

European Markets Close 2% Lower Amid Mining Stocks Slip

European markets experienced a significant drop, closing 2% lower, marking the worst daily decline since August. The decline was driven by a slump in mining stocks.


European Markets Close 2% Lower Amid Mining Stocks Slip

Actions on European markets closed down by 2%, marking the most significant decline since August due to falling prices for shares of companies in the mining sector.

This has followed a general trend for investors regarding the aftermath for the global economy amid a declining dollar rally in the long-term market.

"The market is hesitant, suggesting that we should expect stronger containment in global growth," said a senior strategist of an investment atelier.

According to analysts, noticeable reductions in demand for metals from China, which is the world's largest consumer, played a key role in the drop in share prices in the mining sector.