(Reuters) – European stocks slid on Thursday, tracking a selloff on Wall Street, as a rapid rise in U.S. inflation spooked investors, while a drop in commodity prices weighed on heavyweight miners.
The pan-European STOXX 600 index fell 1.0%, heading further away from all-time highs.
Basic resources and oil and gas sectors, among the recent top gainers on the back of a surge in commodity prices, fell over 2% as a strong dollar put a dent in metal and oil prices. [MET/L]
British luxury brand Burberry tumbled 8.8% on reporting a 10% drop in annual sales, weighed down by the COVID-19 pandemic.
UK’s biggest broadband and mobile provider, BT Group, fell 5.4% as it reported a 7% fall in revenue and a 6% fall in adjusted earnings for the full year.
Markets in Denmark, Finland, Norway, Sweden and Switzerland were closed for public holiday.
(Reporting by Sruthi Shankar in Bengaluru; Editing by Anil D’Silva)
