European stocks fall weighed down by the decline in Wall Street

The big European stock markets have fallen this Tuesday for the second consecutive day affected by the fall of Wall Street and despite the fact that the first inflation data in eurozone countries confirm the moderation of prices.

London has lost 1.38%; Paris, 1.29%; Frankfurt, 0.27%; Milan, 0.16%; Madrid, 0.14%; and the Euro Stoxx 50 index, which groups the large listed companies, 0.66%.

Early in the day, the stock markets rose decisively and before noon, all but London and Paris presented gains compared to the day before, although the fall on Wall Street (the Dow Jones Industrials fell 0.5% at the time of the European closing ) has returned the parquets to red numbers.

It is the first stock market session in the US after the announcement over the weekend of an agreement in principle that would make it possible to increase the debt ceiling and face the country’s next debt payments.

The first inflation data among the euro countries for the month of May, corresponding to Spain, have shown a strong moderation in prices (rising at the rate of 2021), although the underlying rate remains very high (6.1% compared to 3. 2% of the overall).

However, the outlook for the economy worsens according to the eurozone economic sentiment index for May released today, which has fallen much more than expected and has marked the minimum since the end of 2022.

Brent oil falls sharply, 3.7% at the close of the stock markets, and returns to 74 dollars a barrel, levels at the beginning of May, and the euro gains some of the ground lost in recent days and advances 0.14 %, up to $1,072.

Gold recovers and is trading at US$ 1,961 an ounce, 1% more than yesterday, after hitting lows not seen since mid-March in the morning.

Just like yesterday, sovereign bond purchases continue to be strong and the yield on the debt of the eurozone countries has fallen another tenth again and is already around 20 basis points in two sessions.

The interest on the ten-year German bond, considered the safest, has lost 9.4 basis points and has closed at 2.336%.