[ad_1]
© Reuters. FILE PHOTO: The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, December 28, 2022. REUTERS/Staff
(Reuters) – European shares slipped on Friday, in their last trading session of a rough year that was marked by geopolitical tensions and growing fears of a recession as central banks tightened their monetary policies globally.
The fell 0.4% in thin holiday trading, with surging COVID-19 cases in China clouding an already uncertain global growth outlook.
The pan-regional index is on track to end the year 12.1% lower.
China-exposed luxury firms such as LVMH and Hermes International (OTC:) fell 0.7% and 1.4%.
Industrials weighed on the index, down 0.4%, while tech stocks fell 0.7%, giving up some of previous session’s sharp gains.
Rate-sensitive technology shares had rallied on Thursday, tracking gains in their Wall Street peers as U.S. unemployment data signalled that the Federal Reserve’s aggressive interest rate hikes might be starting to dent labour market strength. [.N]
[ad_2]
Image and article originally from www.investing.com. Read the original article here.